MKT 100 Lecture Notes - Lecture 2: Marketing Mix, Reed Business Information, Swot Analysis

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: G

Document Summary

Companies can use multiple strategies at the same time. Maintain/increase a company"s share of current market with current products. Company encourages new applications of a product or tries to attract attention away from rivals. Rogers offered a deal on bigger data plans so it"s customers will like the data plan and continue to pay extra for it after the deal expires (used price to motivate from marketing mix) Some of bell"s customers may even switch to rogers". Target for a market penetration strategy: current and competitors" customers e. g: changing prices, launching social media programs or offering products on internet. Sell a product that already exists to a brand-new market. Will require changes to the marketing mix (price,place (dist. Strategy is used when current market is saturated usage is at maximum, no new customers are entering. There are untapped markets for a product it already has. Won"t incur a large capital expenditure when producing more of its existing products.