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MK 491 Seminar in Marketing Essay Example

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MK 491 Seminar in Marketing

Finally, the organization could consider formulating forecast of the sales that looks into the market response to alternatives of the new product.Segmentation of the market refers to the process used to spot major groups that have similar customer habits and the same characteristics. The advantages of market segmentation include: the company is able to set up marketing strategies that focus on the varying groups the company can develop new products or services that suit the segments (Zwick & Cayla, 2011). This method enables the company to focus on the particular groups, which other marketing programs have not reached. Segmentation makes the marketing process easy for the reasons above. Segmentation is also more efficient compared to the customary marketing methods. This leads to better results.The capability of a business is determined by the skills and resources. The presence of high skills that will lead to product improvement, and the availability of adequate resources will enable the firm to have high capabilities of producing products with high value. The vice versa is true.The factors include; the clients that would yield the maximum profit for the products. The most profitable clients are chosen. Second factor is the size of the market. This market should be large enough, and should enable the business to thrive. The target market chosen should also be likeable. This is because the people that relate well with the business are easy to serve, which could lead to an increase in the market. The market target should also be easy to reach, and should have a high demand for the product being marketed.Vertical relations refer to companies that differ in the stages of the value chain working together. The companies involved remain economically and lawfully separated. It ensures; cost reduction, economies of scale, high quality, and secured supply.Horizontal cooperation is the relation between two companies that are in the same stage of the value chain an in the same industry. The companies with a horizontal relation normally trade or produce the same products (Zwick & Cayla, 2011). The firms in this relation complement each other thus gain more benefits. The relation leads to changes in the existing hubs, and the networks of distribution. It also involves cost sharing, flexibility in production, and cost coordination among others.One should consider to carry

References

Zwick, D., & Cayla, J. (2011). Inside marketing: Practices, ideologies, devices. Oxford [England: Oxford University Press.
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preview essay on MK 491 Seminar in Marketing
  • Pages: 4 (1000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Ph.D.
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