Case Study Analysis Summary on Marketing Strategy in a Competitive Market

Marketing Strategy in a Competitive Market

A lot of enterprises operate on a variety of strategies to enhance marketing. A new marketer focuses on how to reach clients. Conversely, an enterprise that has operated for a long time concentrates on expanding its share at the market.  Pride and Ferrel cite that there is need for marketers to supervise their competitor’s approaches. This is to enable them to plan for their strategies by taking note of their major preparations. Etihad reveals four marketing options that the manager requires to explore.

Based on Etihad’s perception, market penetration is one of the concepts that upgrade sales among the current clients. In this regard, the firm can conduct a research about marketing to seek tactics that will enable them keep the current consumers (Pride 68). To accomplish this strategy, marketers need to introduce rewards to motivate the available clients and increase sales. Development strategy at the market is another strategy that is effective to attract new consumers. This strategy enables the company to expand and increase its borders across the globe.

According to Etihad, he adds that conducting a marketing analysis will aid the marketer to recognize parts of the market that are neglected. Clearly, sellers can achieve this by focusing on variety of genders and age groups. In addition, this strategy is proved to be efficient when the firm locate a segment in the market whose needs are not completely satisfied. Ansoff matrix is another approach that a marketer can embrace to upgrade his sell of products.  This strategy is vital at the market because it promotes innovation of modern brands to satisfy clients.

In addition, diversifying marketing strategies to other locations allows the firm to introduce new products. This is beneficial to a business because through innovation, it beats its rivals by providing goods that they lack.

Ansoff’s Grid

Available Products                  Modern products

 

Penetration

strategy

 

development

strategy

 

Strategy to develop in market

 

Strategy to diversify

 

 

 

Available

Markets

 

 

New

Markets

 

Works Cited

Lamb, Charles W, Joseph F. Hair, and Carl D. McDaniel. Mktg4: Student Edition. Mason, OH: South-Western Cengage Learning, 2010. Print.

Pride, William M, and O C. Ferrell. Marketing. Mason, Ohio: South-Western Cengage Learning, 2012. Print.

 

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