Concept of Marketing

Review the important themes within the sub question of each bullet point. The sub questions are designed to get you thinking about some of the important issues. Your response should provide a succinct synthesis of the key themes in a way that articulates a clear point, position, or conclusion supported by research.

Market growth is accomplished by one or more of the following strategies: Market Penetration (increasing market share), Market Development (new markets), Product Development (new products or services), and Diversification (promoting new or expanding existing products to reach a new market). Remember, the diversification strategy stands apart from the other three strategies. The first three strategies are pursued with the same technical, financial, and merchandising resources used for the original product line, whereas diversification usually requires a company to acquire new skills, new techniques, and new facilities.

• Assess each of these strategies and provide an example for each category.
• Out of the four strategies, choose a strategy that best suits growth in a company of your choice and justify how you would use this strategy.

Support your answers with examples and research and cite your research using the APA format.

posting should be at least 1.5 single-spaced pages (700 to 800 words) in length. Be sure to cite your sources using APA format.