In this most accessible strategy text, Robert M.
This type of strategy usually seeks to gain a competitive edge through pricing, marketing, or other initiatives.
Additionally, market penetration can be achieved by increasing customer usage through loyalty programs and incentives targeting your existing customer base. The best way to achieve this is by gaining competitors' customers part of their market share.
Other ways include attracting non-users of your product or convincing current clients to use more of your product by advertising etc.
Tigo Telecommunication Company market penetration strategy To understand more about this strategy lets take Tigo Telecommunication Company. The company evolved from Mobitel through Buzz to Tigo, when it was Mobitel and Buzz there was no any significant performance noted and actually had not seriously applied the growth strategies.
Then Buzz was changed to Tigo and the Tigo management decided to use market penetration as their growth strategy.
They targeted on providing the same service in an existing market. Through this strategy the company has managed to attract people who were non users of the mobile communication to join Tigo and also has attracted some customers who were customers of competitor companies to join Tigo.
The new market can be geographical e. It's even possible to develop a new market for existing products by adjusting the product's packaging or expanding the product's distribution channels.
If the marketing skills are not up to the task, the business will need the assistance of a skilled marketing professional to achieve growth in the new market. Mzumbe University provides both undergraduate and postgraduate studies.
Previously Mzumbe provided only full time Masters Programs, its market was only the graduates who wanted to study Masters full time without other binding activities such as jobs, business etc.
Rethinking International Counterterrorism Assistance to the Greater Horn of Africa: Toward a Regional Risk Reduction Strategy by Matthew Schwartz, Liat Shetret, and Alistair Millar. Contents 01 Business Strategy 01 – 48 02 Business Ethics and Corporate Governance 49 – 62 03 Economics, Politics and Business Environment 63 – The case calls for an analysis of the potential benefits from international scope in wireless telecommunications and the development of strategy recommendations for Vodafone. This case offers an opportunity to how to analyze the costs and benefits of international .
Instead of pioneering a new market with existing products, the business attempt to roll out a new product in a market with which the firm is already familiar. Many business owners are more comfortable working in this kind of scenario because they already possess an awareness of prevailing market conditions.
However, a product development strategy can be just as challenging as a market development strategy because it often requires the business to develop new abilities and continuously adapt the products until they achieve marketplace success Kotler, Pepsi Cola Company Product development strategy Take an example of Pepsi Cola Company which is one of the largest beverage producers in the world.
The company has employed different growth strategies since its existence, however one of the strategy the company has put into application recently is product development. Pepsi has changed its product strategy by creating new products to follow the industry movement away from mass branding.
This new movement was designed to attract a younger, hipper customer segment. Louis, Yazijian and Harvey For instance, if the company makes the bulk of its sales at a particular time of year, it makes sense to consider diversification.
By extending the company portfolio of products or services you can ensure a regular revenue stream from January through to December. And perhaps the biggest reason for doing it is to extend a brand reputation into other markets, making the business bigger than one ever imagined.
Take an example of General Electric Company. General Electric Company Diversification strategy General Electric the fourth most innovative company in the world Bloomberg business week; The World's 50 Most Innovative Companies Special Report, is one of the vibrant strong companies in the world which primarily was a manufacturer of electric parts.
If the business is still struggling to win orders and build a sales time for the core product, there is a real danger that diversification will take its eye of the ball. The catalyst to diversify business is often the realization that growth in the core business is either slowing or set to slow, often because the market for a particular product is becoming saturated.
Diversification can put a company on the fast track to growth but if the strategy fails it can also burn up money.
Diversification strategy can be categorized into two types: Concentric diversification It is the addition to a corporation of related products or divisions. The common thread may be similar technology, customer usage, distribution, managerial skills or product similarity.
This type of diversification is appropriate for companies wishing to take advantage of their competitive position strategies.
Vodacom Tanzania and concentric diversification strategy. Vodacom Tanzania has been repositioning itself to become a total communications solutions provider, offering customers quality and meaningful services and products.
The company has employed the concentric diversification strategy to maintain and improve its performance. The company has introduced the M-Pesa services and internet services, these services are highly related to the primary product the voice communication.
M-PESA is an innovative money transfer solution that enables customers to send money to any mobile customer in Tanzania and also pay various bills via a simple phone transaction. Conglomerate diversification A conglomerate is a combination of two or more corporations engaged in entirely different businesses together into one corporate structure, usually involving a parent company and several subsidiaries.About the course.
Decisive leaders stand out. But acquiring decision-making confidence requires sophisticated skills, knowledge and experience. If you could peer into the future, calculate knock-on effects and predict outcomes, making decisions would be easy. "Vodafone: Rethinking the International Strategy" What are the benefits of international scope in wireless telecom?
Advise Vodafone on its international strategy.
Beyond ATL and BTL A lot has changed in the last 10 years though. Earlier, as part of a pan-India plan, a media planner would cover markets in a year.
Usually television was the lead medium and print followed with long copy ads; radio and outdoor were slapped . • Strategy and Management of TTL campaigns - integrated communications planning and implementation • Online Communication - rethinking the media mix! • Direct Communication (including all corporate brochures, leaflets, publications, magazines).
Rowan Gibson. Global Leader of Innovation award winner for innovation strategy; International best selling author of 3 major books (Rethinking the future (), Innovation to the Core (Harvard Business School Press ) and The Four Lenses of Innovation ()Rowan Gibson is “one of the most recognised thought leaders in business innovation” (Forbes).
This Rethinking International Relations - A Teaching Strategy Lesson Plan is suitable for 10th - 12th Grade. Students read and discuss five selections presenting a range of opinions about the direction of the international system.
Then students write an essay expressing their .