Food Marketing Strategy Development 6

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Questions and Answers

What are the different courses of action in the ANSOFF growth matrix?

Market penetration, Market development, Product development, Diversification

What are the main macro segmentation variables for consumer markets?

Geography, Demography

What does the term 'positioning' refer to in the context of marketing strategy?

Choosing a position in the market through giving the product specific characteristics

List the different growth strategies for current products and new products.

For current products: Market penetration, Market development. For new products: Product development, Diversification Signup and view all the answers

What are the characteristics of good market segments according to the STP-analysis?

Homogenous preferences within segments, Heterogenous preferences between segments, Demand differences between segments, Accessible, Stable, Substantial Signup and view all the answers

What are the five steps in strategy development according to the text?

Develop a GOAL, Set the OBJECTIVES, Select MAJOR MARKET / SEGMENT, Set POLICY: COURSES OF ACTION, ASSEMBLE & IMPLEMENT Signup and view all the answers

What are the facets of marketing strategy discussed in the text?

Product range strategy, Selling and distribution strategy, Promotional strategy, Pricing strategy Signup and view all the answers

What does the 'Marketing goals' entail according to the text?

Statements of purpose / Mission statement, General guideline for employees, Usually rather general and abstract statement e.g. 'Become a leading brand worldwide' Signup and view all the answers

What are the components of the strategic context discussed in the text?

Purpose, Values, Standards and Behaviours Signup and view all the answers

Who are the authors and contact details for the course 'Food marketing and consumer behaviour - Marketing Strategy'?

Prof. dr. ir. Wim Verbeke, dr. Christine Yung Hung, ir. Fien Minnens, <a href="mailto:[email protected]">[email protected]</a>, <a href="mailto:[email protected]">[email protected]</a>, <a href="mailto:[email protected]">[email protected]</a> Signup and view all the answers

Five steps in strategy development?

<ol> <li>Develop a Goal. 2. Set the objectives. 3. select MAJOR market/ segment 4. Set policy: courses of action 5. Assemble och implement</li> </ol> Signup and view all the answers

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