Typical Marketing strategies Research Paper Example | Topics and Well Written Essays - 750 words

Typical Marketing strategies - Research Paper ExampleIn such(prenominal) a strategy, companies ensure that there, no excess represent being incurred. In the case of products, companies source raw materials from suppliers at the let outest possible cost and still maintain the necessary quality required.This aggressive image to remaining the market director requires the firm to expand the entire market by seeking new consumers, new product implements and encouraging current consumers to use more of the service or product. All of these strategies will serve to boost quantity demanded resulting in lower costs through proper economies of scale countenance the firm to reinforce its supremacy in the industry.Wal-Martis the perfect example of this strategy. Wal-Mart has been flourishing using this strategy of daily low prices to attract consumers. The plan of daily low prices is to offer goods at a lower rate compared to competitors, relatively than relying on sales. This company attain s this due to its great scale and resourceful supply chain. They get products from gimcrack local suppliers and low-wage overseas markets. This allows the corporation to sell their things at low prices and to profit off thin margins from very volume sales. Therefore, based on this approach, Wal-Mart has been able to educate and control the vast market share.This Strategy is based on exploiting recognized weakness in the place of the cost leader or other companies in the market. These weaknesses might be customer dissatisfaction with the products available, consumer services or value of the product obtainable by the Cost-Leader.Targetis an outstanding example of this approach countering with lesser, friendlier stores easier for the purchaser to voyage when in a rush. Differentiated products gain a competitive advantage as the customer derives satisfaction from the product, which is not accessible to other products. Companies that employ such a strategy can end being a monopoly in the