Question: You will note in the Writing Assignment due this week that you will be finding a product that can benefit from a strategic marketing plan
You will note in the Writing Assignment due this week that you will be finding a product that can benefit from a strategic marketing plan for growth in one of three ways:
- Marketing penetration (find more customers like your current customers, generally with current products)
- Market development (find different customers, generally with current products)
- Product development (make new products for current or new customers)
Following is a primer on the model, which you have probably seen in other courses.After you refresh your memory,give us an example of a product/market match that you believe has been the result of one of these strategies. For example, Coke Zero is a product development strategy to further penetratethe male market for diet cola products (increase the product range) as identified in the lower right-hand side of the model.
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