Summary
Export Management - Hans Veldman - Chapter 3 Summary
- Course
- Institution
- Book
Export Management - Hans Veldman - Chapter 3 Summary
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
Summary for International supplychain management 2
-
Summary Export Management: A European Perspective, ISBN: 9789001700324 International Supply Chain Management (FBE_2000SCM219-BE-IB)
-
Summary Export Management: A European Perspective, ISBN: 9789001700324 Export Management
Seller
Followfienritter
Reviews received
Content preview
MAREX Week 3Chapter 3 – Researching and Selecting Foreign Markets
3.1 Growth Strategies & Marketing
Ansoff Matrix
How can a company grow?
Choice is based on growth & export market, competitive advantage and resources available to
enter the new market.
Increasing Risk
Increasing Risk
1 3
2 4
1. Market Penetration
Focus on selling your existing products or services in your existing/home market(s)
Goal is to gain a higher market share and achieve maximum return in the home market
2. Market Development
Selling your existing products into new markets
Products may need to be attuned based on specific customer needs
3. Product Development
Creating new products for the existing customer base
This is done via R&D, by assessing customer needs and brand extension
4. Diversification Strategy
Entering a new market with a totally new product.
There are 3 diversification strategies:
a. Concentric Diversification
A company acquires or develops new products or services
Products/services are closely related to the core business
b. Horizontal Diversification
New products or services that are (unrelated) technologically or commercially but
that may appeal to current customers
Increases the firm's dependence on certain market segments
c. Conglomerate diversification
, MAREX Week 3
Adding new products/services that are significantly different from the
organization's present products/services
Expansion to unrelated areas of current business
Growth Opportunities
1. Backward vertical integration
A company integrates its operations with supply side of the business
The company gains control over the raw material suppliers by integrating them with their
ongoing business
2. Forward vertical integration
Business activities are expanded to include control of the direct distribution/supply of a
company's products
Company moves down the supply chain
e.g. farmer sells his crops at a local grocery store rather than to a distribution center that
controls grocery store placement
3. Horizontal integration
Acquisition/expansion of a business at the same level of the value chain
3.2/3.3 Growth Strategies & Segmentation, Target Groups & Positioning
Generally 3 types of marketing:
1. Mass marketing
Segment marketing (lots of competition)
e.g. products in the supermarket
2. Niche Marketing
Sub-segment marketing (little competition)
e.g. special audio installation SONOS
3. Micro Marketing
Tailor made marketing (no competition)
e.g. architect designs a house for a customer
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller fienritter. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.95. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
60904 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now