The four kinds of market-product strategies Essay

The four kinds of market- growth strategies - Essay ExampleThe four kinds of market-product strategies that governments may go over depending upon the availability of their resources and requirements are very(prenominal) Market New harvest (Product Development) In this strategy, an placement introduces the same product in the market that he is currently catering to. It is a type of product development that an organization does to retain and increase its potential customers by providing solutions that based on the identified requirement of customers. Same Product New Market (Market development) In this strategy, an organization trains the same product that it is currently dealing in to rising markets, to turn its prospective customers into its routine and regular customers by identifying a need in that segment. It has much much to do with the identification of the right market segment and so offer them with the products from an organizations portfolio. Same Market Same Produc t (Penetration Strategy) If an organization wants to cater the same market with the same product then it must have to follow the penetration strategy. It means organization will have to take the travel to increase its market share in the existing market and to follow strategies that will help organization to beat the competition. The most widely accepting activity that organizations do is to reduce the prices. The reduced prices will take the market share away from its competitors.