Assignment # 1

Subject:
Fundamentals of Marketing

Submitted To:
Sir Allah Wasaya

Submitted By:
Aun Mustansar Hussain

FA20-BCS-133

Section:
“C”
Market Penetration:

 This strategy involves on selling your existing products or services into your existing
markets to gain a higher market share.
 The market penetration strategy:-
 Decreasing prices to attract existing or new customers
 Increasing promotion and distribution efforts
 Acquiring a competitor in the same marketplace

Market Development:

 Focus on developing new markets or market segments for your existing products or
services.
 Expanding into new markets may mean expanding into new geographies, customer
segments, regions, etc.
 The market development strategy:-
 Catering to a different customer segment
 Entering into a new domestic market (expanding regionally)
 Entering into a foreign market (expanding internationally)

Product Development:

 Focus on developing new products or services for your existing markets.

 The move typically involves extensive research and development and expansion of the
product range.
 The product development strategy :-
 Investing in R&D to develop new products to cater to the existing market.
 Acquiring a competitor's product and merging resources to create a new product
that better meets the need of the existing market.
Diversification:

 Focus on the development of new products to sell into new markets.

 In a diversification strategy, the firm enters a new market with a new product. Although
such a strategy is the riskiest, as market and product development is required, the risk can
be mitigated through related diversification.
 There are two types of diversification:-
 Related diversification
 Unrelated diversification