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Solved in 3 steps
- What are the strategies used for market penetration?How does the level of market concentration and the number of competitors in a given industry impact the intensity of competition, and what are the implications for firms' marketing strategies?Which components of a marketing plan are suitable for developing market growth strategies? Explain
- Explain how can a company switch from an undifferentiated marketing strategy to a micro-marketing strategy, or vice versa?How can a company switch from an undifferentiated marketing strategy to a micro-marketing strategy, or vice versa?Business markets have several characteristics that differ from the consumer market. Distinguish these different characteristics?
- How does strategic marketing address the needs of different customer segments?What are the different marketing strategies that are mostly used by the market leader to retain its position in the market? Explain each marketing strategy on detail.Can a business or company make a marketing strategy without making marketing tactics?
- Is it a good strategy to focus most marketing efforts on the most profitable customers?how is market share calculated, and what factors can impact a company's market share?Why do companies use market segmentation, market targeting, differentiation, and positioning in implementing an effective marketing strategy?