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Organizational Strategies Based on Products and Markets

Organizational Strategies Based on Products and Markets

Organizational Strategies based on products/markets focuses on products offered and markets served. An organization using this strategy has four options available to achieve its objectives. It can grow in a variety of ways by concentrating on present or new products and on present or new customers. These four ways are: Market
Penetration Strategies, Market Development Strategies, Product Development Strategies, and Diversification.

Market Penetration Strategies: These organizational strategies focus on improving the organization's present products with its present customers. Tactics used to carry out this strategy could include price reductions, advertising that stresses the benefits of a product, making the products more available, or using different packaging. Overall, market penetration strategies concentrate on improving efficiency of various functional areas in the organization.
EX:
1. snack products company...

Posted by: Joel Chibota

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