Based on the product development strategy, identify the strategy that leads to repositioning both

universities' target markets

Generally, product development strategy refers to the procedures and actions used to
introduce new items to the market or to alter current products in order to start a new
business (Indeed, 2022). Based on the scenario, we can see that the professor proposed
retargeting the market based on gender which is related to the definition of product
development strategy.

Moreover, investing in market research is one of the strategies that lead to repositioning both
universities’ target markets. When the universities are engaged in this strategy, they need to
conduct research to determine the requirements of customers and create goods that will
meet those demands. This requires the universities to implement a better understanding of
the research to ensure a successful repositioning. Furthermore, the universities can hire
expert market researchers to assist them in implementing this strategy.

On top of that, the other strategy that leads to repositioning both universities’ target markets
is making alliances with the other institutions. In particular, making alliances in terms of
marketing, research, finance, and technology will lead to cost reductions that match the cost-
savvy policies without taking on the entire risk of product development. The university also
can save the cost by sharing the cost of market research with the other university.

In conclusion, the strategies mentioned above refer to proactive product development

strategy because it suits the situation in the scenario. In order to be successful, universities
should consider including market research in whatever product development strategy they
choose.

References
Indeed. (2022, June 25). What Is Product Development Strategy? Retrieved from
https://www.indeed.com/career-advice/career-development/product-development-strategy