chapter16

marketing strategy

a plan to achieve the marketing objectives of a business using a given amouny of resources

deciding market strategy

market budget available, stage the product is at in its life, level of competition in the market, characteristics of target market

legal control

law and regulations of a country

criteria to consider before market to consumer

advertised weight and measures of a product must be correct, advertising must not mislead customers, faulty/dangerous items must not be sold, consumers must not be exploited where there is little to no competition

effect on business

advertisements may have to be withdrawn or redesigned, product may need to be changed, may face legal controls

advantages of entering new market

sales increase, spread risks, reduced barrier to entry

reduced barrier to entry

easier to enter the market