Which of the following best describes product positioning? arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
What are the 5 stages of product development?
- Phase One: Idea Generation
- Phase Two: Screening
- Phase Three: Concept Development
- Phase Four: Product Development
Which of the following is an example of growth by diversification
Answer and Explanation: 1) Which of the following is an example of diversification : The correct answer is e) Market expansion.
To diversify, a company will expand to a new market.
What is an example of brand stretching
The term brand stretch refers to how far a business can stretch its products or services into new and unrelated markets successfully.
Think Yamaha, originally a musical instrument manufacturer, launching into the unrelated motorbike market.
What is multi brand with example
What Is a Multi-Brand Strategy? A company has a multi-brand strategy when its portfolio of products has distinct brands or names.
For example, Nestle has a multi-brand strategy with over 2000 brands including KitKat and Nespresso.
Does Starbucks have a brand extension
Starbucks has unveiled a revamped global brand identity as part of a plan to mark its 40th year in business and expand the brand beyond coffee.
The multi-million pound refresh of the world’s largest coffee chain sees the brand’s familiar logo shift from being green and black to solely green.
How does Apple use diversification
The internal motivation of Apple’s diversification is to make full use of the remaining resources, to spread the risk, to reduce the gap between the target and the transaction cost./nThe role of Apple’s diversification strategy: one is to spread risk, improve operational security.
Is Coca Cola a diversified company
Even though Coca-Cola has diversified its operations, yet their flagship product is still the biggest revenue earner.
They have been, and are currently, expanding into the flavored drink lines, which can take the spotlight away from their star, the original Coca-Cola drink.
What is an example of diversification
Concentric diversification refers to the development of new products and services that are similar to the ones you already sell.
For example, an orange juice brand releases a new “smooth” orange juice drink alongside it’s hero product, the orange juice “with bits”.
What are the examples of line extension
A line extension is when a parent brand launches a new product line in a category already familiar with its customers.
With a line extension, brands don’t have to create new categories. An excellent example of a line extension is when soft drink companies introduce new flavors to their existing drink lineup.
What are the 6 factors that affect demand?
- Tastes and Preferences of the Consumers: ADVERTISEMENTS:
- Income of the People:
- Changes in Prices of the Related Goods:
- Advertisement Expenditure:
- The Number of Consumers in the Market:
- Consumers’ Expectations with Regard to Future Prices:
What is Bcg matrix with example
We use Relative Market Share in a BCG matrix, comparing our product sales with the leading rival’s sales for the same product.
For example, if your competitor’s market share in the automobile industry was 25% and your firm’s brand market share was 10% in the same year, your relative market share would be only 0.4.
What are the 4 methods of diversification
Igor ansoff developed the market/product matrix for the growth strategy. The matrix comprises four parts; market development, product development, diversification, and market penetration.
Ansoff said that the diversification strategy is entirely different from the other matrix strategies.
Which of ansoff’s four strategies represents the highest risk approach for a business
Diversification (upper right quadrant). This is the riskiest of the four options, because you’re introducing a new, unproven product into an entirely new market that you may not fully understand.
What four items are shown on a Gantt chart?
- Planning Tasks: shows what needs to be done, when
- Planning Personnel: shows who needs to do what, when
- Planning Physical Resources: shows what physical items or spaces are needed, when
- Tracking Project Deadlines: shows what will be done, when
Which is the example of related diversification
Related diversification occurs when a firm moves into a new industry that has important similarities with the firm’s existing industry or industries (Figure 8.1).
Because films and television are both aspects of entertainment, Disney’s purchase of ABC is an example of related diversification.
What is Coca-Cola’s product line
Our portfolio of brands includes Coca-Cola, Sprite, Fanta and other sparkling soft drinks. Our hydration, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, Powerade, Costa, Georgia, Gold Peak, Ayataka, and BodyArmor.
What are the 3 diversification strategies?
- Concentric diversification
- Horizontal diversification
- Conglomerate diversification
What strategic approach is Apple using to compete internationally
Major International Strategy: Apple Inc uses differentiation strategy as its major international strategy to deliver high customer value through its innovative brands in overseas market.
Through the help of this strategy, the organization has developed a strong market share in overseas market.
What type of corporate strategy is Disney pursuing
Walt Disney pursues a diversified corporate-level strategy through its horizontal integration strategy aimed at increasing market share.
The company is expanding internationally to exploit emerging market opportunities in China and Russia through the acquisition of related businesses.
What brand extension does Coca-Cola use
Coca-Cola line extended its brand by introducing Diet coke. In 2010, Diet Coke became the second-most popular soft drink in the U.S.— overtaking Pepsi.
That’s an example of a very successful line extension.
Is Diet Coke a brand extension or line extension
The most well-known example of a line extension was Coca-Cola’s release of Diet Coke in 1982.
It was used to target the growing weight- and calorie-conscious market.
What is the Boston matrix model
The Boston Matrix is a model which helps businesses analyse their portfolio of businesses and brands.
The Boston Matrix is a popular tool used in marketing and business strategy. A business with a range of products has a portfolio of products.
However, owning a product portfolio poses a problem for a business.
Is Coca Cola a line extension
In some cases, this extension can remain true to the original product and simply offers a variation.
This is a line extension. A great example of this is the established brand, Coca-Cola.
What is GE matrix in strategic management
The GE-McKinsey Matrix (a.k.a. GE Matrix, General Electric Matrix, Nine-box matrix) is a portfolio analysis tool used in corporate strategy to analyze strategic business units or product lines.
This matrix combines two dimensions: industry attractiveness and the competitive strength of a business unit into a matrix.
How diversified is Samsung
Historically, Samsung has diversified into different businesses upon spotting an opportunity with growth potential in different regions in the world.
Due to Samsung’s diversification strategy, Samsung has an extensive product and service portfolio under the Samsung brand operating all over the globe.
Which of the following factors influence buying power and patterns
Economic environment consists of factors that affect consumer purchasing power and spending patterns.
What is Coca-Cola’s product mix
For example, The Coca-Cola Company has its signature Coca-Cola brand, featuring original Coca-Cola, Diet Coke, Coke Zero, Cherry Coke, etc. This would be described as a product line, while their product mix consists of their Coca-Cola, Dr. Pepper, Glaceau Smartwater, Sprite (and so on) product lines.
How does Apple use Ansoff Matrix
Apple Ansoff Matrix is a marketing planning model that helps the multinational technology company to determine its product and market strategy.
Ansoff Matrix illustrates four different strategy options available for businesses. These are market penetration, product development, market development and diversification.
How do company objectives and goals relate to the company mission statement
The mission statement describes a company’s objective, which is the first element in the company’s strategy statement.
The objective is a definition of the ends that the mission (or strategy) is designed to achieve.
References
https://thebusinessprofessor.com/business-management-amp-operations-strategy-entrepreneurship-amp-innovation/types-of-business-strategy
https://airfocus.com/glossary/what-is-a-product-mix/
https://www.investopedia.com/terms/m/market-segment.asp
https://contensis.uwaterloo.ca/sites/courses-archive/1191/ECON-344-ARBUS-302/lecture-content/module-1/week-2-3.aspx
https://ojs.widyakartika.ac.id/files/56fo72bf/page.php?id=product-extension-merger
