Marketing Management
1.Discuss how companies choose target-marketing strategy and identify attractive market segments. Improve your answer with examples.
2.How do firms manage all of their products and services? What are the steps in the best development process for new products/services?
Marketing Management (1)
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QUESTION 1
The ultimate goal in any organization is in a position to continually avail new products to the market. Given this, the marketing department in any organization has a task of ensuring that the outcomes of the organization reach their target consumers and are in quantifiable quantities for their ultimate satisfaction. In a large company like Coca Cola, it’s incredible how they strategize on their market selection for their products. However, the company’s marketing department is always at the forefront to identify new and attractive ways through which they use to penetrate their newly developed products (Aghdaie, 2015). In recent years the company has grown a variety of products like the minute maid and the coke zero which has been a legendary when it comes to ensuring customer satisfaction, and this has played a significant part in the company’s overall shift in margin in the recent years of operation.
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