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43 PART 1 UNDERSTANDING MARKETING MA NAG EM £ NT

FIG 2*6

iijl r.'^nts jpiys^a

Currant PltttuCb

New Prodtigl?

Currant PltttuCb

New Prodtigl?

Current

1. Mniift-pfinelMiion

3. Product- dcvcicpm&ti

Markets

strategy

strategy

Mew

2. Maikit-<te*«l0pnte«il

[tüvHüifoliori

Markets

strategy

strategy)!

The company first considers whether it could gain more market share with iis current products in their nmvm m:ukeis <m;n k<'i-piwi i m ion strategy). Neatf it considers whether it can find or develop new markets for its current products (market development stramgO-Then h considers whether ii can develop new products potential interest to iis current markets (prod net-di'vetopmeut strategy), Later it wiB also review opportunities tn develop tfiiv producLs for jiew markets (diversification strategy).

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