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What specific strategies (at least two) will you propose to a company of your choice to implement market development?
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- Advise an organisation that is planning to adopt a market development strategy on the various options available, when it is viable and suitable to adopt the strategy.what is the best strategy to maximize profits?How can an organization effectively assess and enhance its strategic capability to gain a competitive advantage in the market?
- In terms of environmental factors and risks, what type of strategies would provide value to the outcome a company?Identify the six forces that shape competition in an industry. Describe how changes in the strength of these forces affect prices, profitability, and under which circumstances each can be considered a threat or opportunity. Why is a competitive analysis using the competitive forces framework a benefit to industry?Compare and contrast industry market potential and company sales potential. How is an estimate of industry market potential helpful to managers? What factors are necessary to determine industry market potential?
- "What methods and factors should businesses consider when evaluating the market potential for a new product or service in today's dynamic business environment?"What types of quantitative analysis are useful to analyze whether a company should take a successful premium product and choose to go down-market?What are the characteristics of an attractive industry? How would you identify that a target market is attractive for your proposed business?
- Which is the most important for company's competitive advantage: internal consistency or market competitiveness?Explain the strategic option that takes the organization away from its existing products and markets showing its main advantages and disadvantages and the appropriate methods for its implementation?Consider the Scenario below: A national property/casualty insurer distributes its personal and small commercial productsthrough independent agents. A study was conducted as a part of reevaluation of its strategies,designed to determine:• Whether its market share might be increased by direct marketing to some households.• Whether doing so would conflict with agent activities.• Marketing themes and product features that could be used to differentiate it indifferent market segments.• The potential profitability of different segments.Attitudinal, behavioral, and demographic data were gathered using a mail panel survey of2000 U.S. households that own auto insurance. Geodemographic and credit informationsupplemented the survey responses.Segments Identified: The study identified five segments, each making up 17% to 22% of themarket.• "Non-Traditionals" were most interested in using the Internet and/or buying insuranceat work.• Direct Buyers were more interested than others were in buying via…