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Chapter 8

Marketing 2030 Chapter 8.docx

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MKTG 2030
Linda Reeser

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CHAPTER EIGHT Using Product Objectives to Decide on a Product Strategy Current MarketsNew MarketsCurrent Marketing Penetration Getting Market Development Entering into a Productsconsumers to buy more of the product new market New Product Development Developing a new Diversification Entering a new market Productsline with a new product lineObjectives and Strategies for Individual Productso For new projects a successful introduction is importanto For mature products product objective would focus on breathing new life into a product long taken for granted while holding onto the traditional brand personalityObjectives and Strategies for Multiple Productso Product Line Strategies A firms total product offering designed to satisfy a single need or desire of target customers Cannibalization The loss of sales of an existing product when a new item in a product line or product family is introducedo Product Mix Strategies Planner looks at the width of the product line and the number of product lines produced by the firmProduct Mix The total set of all products a firm offers for sales Marketing Throughout t
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