Cost leadership This strategy implies maximum optimization of the production process and ruction of the company’s expenses without compromising the quality of your product. The tasks and goals of the business are to ruce the cost of its products as much as possible, thereby gaining more loyal customers. The ruction can occur due to changes in the production process, increas effectiveness of advertising campaigns, optimization of the logistics chain, and so on.
Differentiation The differentiation strategy implies
The presence of some unique property in your product or service. It should greatly distinguish it from similar products of competitors. It is due to the uniqueness peru phone number library and value of the product that a business tries to achieve primacy even in the most ordinary niche. For example, the best customer service, excellent product quality, brand, special innovative function, and so on help in this.
Growth Strategies This type of marketing strategy
Involves business expansion. For example, scaling up production, increasing market share in terms of sales volumes or region of coverage. A corporate growth strategy may be associat with entering global markets. There are five subtypes of growth strategies. 1. Diversification Companies of completely different levels use this type of strategy. Diversification strategy implies expansion of one’s own assortment or development of a new type of goods and services in a completely different direction for the business.
The following are distinguish:
Horizontal diversification – companies develop an updat importance of email communication for a product for old consumers who are already familiar with the company. Vertical diversification – the development of new goods and services that are part of the chain of creation of the old product. Lateral diversification is the creation of a new product for cg leads new consumers in a fundamentally different market. 2. Internationalization First of all, strategies of this type are aim at expanding the geography of product sales. At the same time, the company tries to go beyond its country or region.
For example, such transnational companies
McDonalds and Apple choose this strategy. 3. Market segmentation and expansion of an existing product into new local markets. The main feature is that such a strategy implies gradual introduction through a step-by-step change of the product and testing of different hypotheses to conquer the market.