Questions for Strategic Marketing: 1. Following is a primer on the model, which

Question

Questions for Strategic Marketing:

1. Following is a primer on the model, which you have probably seen in other courses. After you refresh your memory, give us an example of a product/market match that you believe has been the result of one of these strategies. For example, Coke Zero is a product development strategy to further penetrate the male market for diet cola products (increase the product range) as identified in the lower right-hand side of the model.

2. What are relevant criteria for determining competitive positions? There are many possible criteria and they won't always be the same for every product category. Just mention one and why it is a relevant criteria and perhaps some ideas of how to find it, how easy or difficult it is to find, etc.

Explanation / Answer

1. Tesla's electric vehicle is another product development strategy aimed to target medium and high income groups of consumers. The product has been developed to reduce the negative impact of fuels such as petrol and diesel on the environment and to cater to the increasing demand of non-polluting fuels.

2. One of the relevant criteria for determining competitive positions is core competency. Core competency is an important attribute for an organization to have a competitive position in the market. An organization having core competency succeeds over other organizations in generating more revenue and profits. Core competency can be found by looking at the strengths of the organizations and identifying the parameter that is consistently good for that organzation.

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