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Describe what each strategy is and specifically example/products for each strategy

P​‌‍‍‍‌‍‍‌‍‌‌‌‍‍‌‍‍‌‌‍​rinciples of Marketing Final Paper You are the owner of a medium size company that manufactures toasters in the U.S. The toaster is chrome with two slots for toasting bread. Your company has been successful in selling theses toasters. You enjoy a great reputation for quality and service with your retailers who purchase your toasters for consumer use and the consumers themselves. Your toasters can only be purchased through retailers e.g. Walmart, Target, and the like. You’re on your way to a meeting with the Marketing and Production departments to discus​‌‍‍‍‌‍‍‌‍‌‌‌‍‍‌‍‍‌‌‍​s the future of the company. Right now, sales are good, but they have become flat, showing little growth over the past twelve months. You feel that the company needs to grow to stay competitive with increased foreign competition. Your Marketing Department has recommended four of the following ways to grow the company. They are as follows. 1. Market Penetration 2. Product Development 3. Market Development 4. Diversification Your job is to describe what each strategy is and specifically example/products for each strategy. Each of these is worth 25 poin​‌‍‍‍‌‍‍‌‍‌‌‌‍‍‌‍‍‌‌‍​ts.

 

Principles of Marketing Final Paper

 

You are the owner of a medium size company that manufactures toasters in the U.S.

The toaster is chrome with two slots for toasting bread.

Your company has been successful in selling theses toasters.  You enjoy a great reputation for quality and service with your retailers who purchase your toasters for consumer use and the consumers themselves. Your toasters can only be purchased through retailers e.g. Walmart, Target, and the like.

You’re on your way to a meeting with the Marketing and Production departments to discuss the future of the company.  Right now, sales are good, but they have become flat, showing little growth over the past twelve months.  You feel that the company needs to grow to stay competitive with increased foreign competition.

Your Marketing Department has recommended four of the following ways to grow the company. They are as follows.

1. Market Penetration
2. Product Development
3. Market Development
4. Diversification

 

Your job is to describe what each strategy is and specifically example/products for each strategy.

Each of these is worth 25 points.

Good luck!

 

 

APA

 

 

 

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