Wednesday, July 23, 2008

Marketing Techniques

Here are 4 marketing techniques that you can employ:
  • Market Penetration - Increase sales by selling existing products in existing markets.  This involves using current products in current market.
  •  Market Development - Increase sales by selling existing products in new markets to either satisfy new customer needs or to identify new market segments.  This involves using current products in a new market.
  • Product Development - Offer new and improved products in an existing market.  This involves using new products at current markets.
  •  Diversification - Coming up with something new for a new market. This may move the company into different lines of business whether related or unrelated to current market strategies.

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