University:
California State University, Northridge
Course:
MKT 498A | Marketing Internship
Academic year:

2023
Views:

19

Pages:

1
Author:

Nirr Nirr

Principles of marketing Harvesting strategy is when the organization ties to collect as much cash as possible before leaving the market. Divesting strategy is when a company withdraw one or more services. It might also close one or more branches. Some companies try to decrease investments in order to cut costs of the product or the service. Extension strategy: such as discounts, sales promotions. The product positioning process has the following steps: 1) Analyze brand’s current position 2) Analyze the intensity of a brands current position 3) Determine consumer’s perceptions Market modification is when a company changes the market where it sells the product. When a company tries to position itself with one or more attributes that is called attribute positioning. Benefit positioning is when an organization emphasizes the benefits of the product or the service it is offering. Some companies uses user positioning in order to position the product or the service in the mind of customers. Some other positioning strategies are as follows: A) B) C) D) Competitor positioning: some products can best be positioned against competitive offerings Product category positioning Quality positioning Price positioning A price is the sum of all values that a product can offer to the potential buyer. Charging Enough to Cover Costs: 1) Cost plus-pricing 2) Charging a fair price The perceptions about price and value are as follows: a) Entry Pricing Strategy b) Pricing Relative to Competitors c) Life Cycle Pricing