Market Penetration
Cours : Market Penetration. Recherche parmi 300 000+ dissertationsPar peltouse • 5 Décembre 2016 • Cours • 269 Mots (2 Pages) • 496 Vues
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Market penetration :
• How to sell more of our existing products to our current customers?
• Implementation of a fidelity program
• Implementation of CRM (customer relationship management system)
promotional campaigns
In every case, the objective is to seek a larger share of the existing market, without making changes to our current products.
Market development :
• How to sell our existing products to new customers?
• Adding new distribution channels (online sales, sale via catalog sales force in new territories, etc.)
The goal is to cover more territory, without making changes to our current products.
Product Development :
• How can we transform our current products and what new products can we offer our current clients?
• Develop strategies to collect relevant information about the buying habits of its customers and this analysis should be done by customer segments (groupings by age group, by gender, etc.).
The goal is to continually offer the product that best meets the needs of its current customers.
Diversification :
• What are the interesting market opportunities at the moment, our company does not cover?
• Create a new activity, to pursue the philosophy of market leader in Bordeaux. Indeed, we were the first to introduce the Trampoline Park with such activities. So we could create an activity per week such as : acrobatic soccer, or acrobatic tennis.
The main objective is to think of a new activity we did not focus on before, to obtain more benefits.
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