Discuss the major issues that top management should consider when deciding whether or not to expand business operations into new business areas.
Answer to relevant QuestionsDevelop an outline of how you would explain the marketing strategy process to an inventor that is forming a new business to develop, produce, and market a new product. Select a product-market where new types of competition and/or new business models are developing. Discuss how and to what extent “opportunities outside the competitive box are developing.” Discuss how a small company (less than $1 million in sales) should analyze its competition. Select an industry and describe its characteristics, participants, and structure. Why are there marketing strategy advantages in using demographic characteristics to break out product–markets into segments?
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