BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What are possible strategies for dog products?
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Quick decision is needed if sales do not improve; revised design, re-launch or withdrawal from the marketInvestment is needed to cope with expanding sales in a fast growing market
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Maintain the market positionSo the business needs to invest in the product to cope with a growing market and growing sales-therefore promotion costs will be high to differentiate (through branding) the product and reinforce its brand imageCash flow may be nearly zero because although profits will be high, bringing money in, spending will also be high leading to outflows
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The cash from this product can be used to milk and inject into some of other products in the portfolioMaintain the cash cow for as long as possibleAs the product has a strong presence in the market, businesses can even charge slightly higher prices to increase their profit margin
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Replace shortlyWithdraw from the market altogetherRe-positioning
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Explanation:
Detailed explanation-1: -A great positioning strategy example would be a computer company that focuses on providing cutting edge technology at premium costs before their competitors. Another example of positioning strategy would be a large chain store that focuses on providing popular goods to many people at a low cost.
Detailed explanation-2: -Pet-Specific Customers The pet-owning demographic includes young pet owners and families centered around their pets.
There is 1 question to complete.