MKT 100 Lecture Notes - Lecture 2: Swot Analysis

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Caitlin Mc Laughlin

Document Summary

Allows you to take advantage when the market is growing to lower the cost per unit. Product development- offering a new product to increase marketability to increase consumer awareness, extend to different paths of business. Diversification- making a large investment to develop a product in a completely new market; risky can be related diversification and. Unrelated diversification where their expertise is irrelevant to the development of their products. Market penetration: the developed assure when the demand for the sterilized products for the different sectors and industries like food doors, walls etc. It would be benefit them by increasing their profits, because without a second distributor. Corus would be able to target their market. Market development: their new product would be able to target a new market like the hospital. Product development: assure was a new sanitation product. Diversification: their new products would be really risky and so they tested the waters first before diversifying.