#2 - Assignment Example

Comments (0) Cite this document
There are different methods and strategies of market penetration or entrance depending on the likes of the business founders. A product requires entering to a market for various reasons;…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.3% of users find it useful
Assignment #2
Read TextPreview

Extract of sample "#2"

Market Penetration College: Market Penetration For any new product or existing product to sell, it has to penetrateinto the market. There are different methods and strategies of market penetration or entrance depending on the likes of the business founders. A product requires entering to a market for various reasons; increasing the frequency of its purchase, selling to non-customers and increasing the amount per purchase occasion (Schuler, 2012). The market entrance methods are as follows;
Increased promotion-in this method, a company penetrates through the market by greater promotion efforts. For instance, it may increase the advertisements of the product thereby increasing brand awareness to buyers and non-buyers.
Price adjustments- this is the lowering of the prices with the hopes to generate more sales by increasing the number of units purchased. This is one of the most used methods by businesses to enter new markets.
Product improvements- this occurs when a business decides to add quality to its products as a way of attracting more customers. Thus, price improvements are better suited for creating new interests in stagnating products and to offer extra benefits when one uses the product.
Creation of more distribution channels- in this method, a business enters a market through increasing its methods of making products reach the consumers and making the products more readily available in the market. For instance, a business that operates through retails may open wholesale centers for distribution of more products.
In any other business, it is vital to make adjustments in the market potential and market share figures for the following reasons (Schuler, 2012);
It helps in determining the market penetration goal. As such, the business subtracts the effects of the limiting factors from market potential, and it enables the business to estimate its measurable goals.
Makes it possible for the business to define its market. By making adjustments in the market potential and the share figures, business can define its markets in terms of industry, product, and geography or customer type.
A business can identify and quantify the limiting factors. Such factors include competition, government regulation, and limited resources. Therefore, by adjusting the market potential and the share figures, the business will be in a better position to realize these factors, and quantify them.
For a small business, evaluating the non-quantitative factors would be based on the following methods (Schuler, 2012).
The ranking method- this is the process of comparing one’s job with others to determine whether it is higher, lower or in the same rank. This method is based on the overall judgment of the required skills, responsibility and also working conditions of the job. The prime benefit of this technique is that it is simple and is easily understood by workers and supervisors. Also, the method is time friendly and has been found to be accurate in facilitating adjustments in the ranks.
Position description method- this is the process of grouping jobs by comparing each against a given rating scale with job grades. This is done to ascertain the grades in which every job belongs. One of the advantages of this method is that it is easy to prepare the rating scale. Also, the described jobs can be made fairly comprehensive in terms of what jobs should be included in every grade. Lastly, the grading system can be easily explained to the employees for them to accept the job classifications.
Schuler, R. S. (2012). Strategic human resources management (SHRM): Linking people with strategic needs of business. Organizational Dynamics, 21(1), 18-32. Read More
Cite this document
  • APA
  • MLA
(“Assignment #2 Example | Topics and Well Written Essays - 500 words - 3”, n.d.)
Assignment #2 Example | Topics and Well Written Essays - 500 words - 3. Retrieved from
(Assignment #2 Example | Topics and Well Written Essays - 500 Words - 3)
Assignment #2 Example | Topics and Well Written Essays - 500 Words - 3.
“Assignment #2 Example | Topics and Well Written Essays - 500 Words - 3”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document


LASA 2/2

...?The Case For, or Against, New Orleans Part A The Economics of New Orleans: New Orleans is one of the main ports of the United s and it is the biggest city in the state of Louisiana. It is a very significant state for the country both financially and economically. “Strategically located near the mouth of the Mississippi River, New Orleans was one of the busiest ports in the U.S, serving more than 6,000 ocean-going ships annually” (Gagne, 2007, p.2). About 20% of all US exports are done via New Orleans, and furthermore, Louisiana is home to an important amount of natural gas and domestic oil production with a key access point for imported oil. “The port generated 107,000 jobs, with over $2 billion in...
6 Pages(1500 words)Assignment

Assignment 2-2

...Television, internet, radio, it. These persona and characters reign. First off: Hannah Montana. No kidding, who does not know her? She’s the girl who has the best of both worlds! This series that airs in Disney Channel is about Hannah, the girl who is living every teenage girl’s fantasy: rocking it out as a pop singer while enjoying the comfort of normalcy. I can’t help but think how similar those little girls’ adoration to Hannah with the days when a certain blond girl sang “Hit me baby one more time!”. Disney certainly knows how to market their star. Because of the very large fan base the hit teen sitcom went to have top grossing concerts and movies. It catapulted the lead star, Miley Cyrus, to up roaring fame. Still the success...
1 Pages(250 words)Assignment


...Lithuania Table of Contents Lithuania 3 Overview of Economy 3 Trends 4 Alternative measures of the economic well-being 4 References 5 Lithuania Lithuania is an Eastern European country. It shares its border with Russia and Latvia. Moreover there is Baltic Sea on the western side of the country. Till March, 1990 the country was a part of Soviet Union. On March 11, 1990 it declared its independence. Today, the country is a member of both EU and NATO. In 2009 the total population of the country was almost 3,331,194 (U.S. Department of State, December 2009). Government of Lithuania is democratic nature. Dalia Grybauskaite is the current president and Andrius Kubilius is the prime minister of the country. Overview of Economy Prior... Table of...
2 Pages(500 words)Assignment

Case study 7/2-2

...Case Study 7/2-2 Case Study 7/2-2 Buyer-seller relationships are an integral part in many organizations. These relations affect the profit that an organization may boast of at the end of the business day. If the organization boasts of exceptional buyer-seller relations, it is likely it may boast of exceptional profits. As consumers of goods and services get accustomed to certain treatment, it is crucial for manufacturers and suppliers to keep up with these trends. The lack of capability to take care of customer needs leads to loss of customers. Loyalty is crucial in the growth and development of an organization. By maintaining such relations, loyalty is guaranteed, for a...
1 Pages(250 words)Assignment


...College: Project The problem facing Kennedy high school was the lack of a strong leadership to necessitate coming up with strategies and objectives to tackle the issues facing the school. Although Weis had high educational qualification and a good reputation, he failed in the management of the schools educational and security issues because he could not face the reality. The school was faced with conflicts between department heads because of the inability to come to a consensus on security issues and free market policy (Pg 2). Weis declined to hire security guards to deal with insecurity in school in a bid to depict the school as peaceful to the public. His failure was rooted on conflict avoidance instead of coming up...
1 Pages(250 words)Assignment

Discussion Board 2-2

...Counselors Should Know Sexual Response Patterns of Men and Women The sexual response patterns of men and women are similar and different in particular ways. Understanding the differences and similarities is an important collection of knowledge relevant for any counselor. During excitement phase of advanced by Masters and Johnson, women and men tend to exhibit similar responses (Rathus, Nevid & Fitchner-Rathus, 2014). As men undergo penile erection, women undergo nipple erection. In both, increase in the rate of heart beat and deep breathing characterize excitement phase. Understanding such responses can help counselor assist a couple to understand signs to observe to confirm excitement of either of the sex partners. According... Should Know...
1 Pages(250 words)Assignment

Week 2 discussion 2

...NASDAQ STOCK MARKET   NADAQ stock market NASDAQ COMPOSITE INDEX YEARLY RETURNS YEAR BEGINNING PRICE ENDING PRICE GAIN OR LOSS PERCENTAGE GAIN OR LOSS 2004 2003.37 2175.44 172.07 8.59% 2005 2175.44 2205.32 29.88 1.37% 2006 2205.32 2415.29 209.97 9.52% 2007 2415.29 2652.28 236.99 9.81% 2008 2652.28 1577.03 -1075.25 -40.54% 2009 1577.03 2269.15 692.12 43.89% 2010 2269.15 2652.87 383.72 16.91% 2011 2652.87 2605.15 -47.72 -1.80% 2012 2605.15 3019.51 414.36 15.91% 2013 3019.51 4176.59 1157.08 38.32% Introduction The NASDAQ stock market is an American securities exchange that is the second largest securities exchange worldwide by market value capitalization after the New York Securities exchange. Started in 1971, the stock market has... STOCK MARKET ...
6 Pages(1500 words)Assignment

Discussion Board 2-2

...Nonverbal Communication in Uncomfortable Situation Nonverbal communications constitute important aspect and technique ofcommunication. Nonverbal communications pass unspoken messages that tend to be concrete and likely to have long lasting impact in the content and nature of a given message. The magnitude of message or information conveyed through nonverbal communication is usually big and people need to be careful with the kinds of nonverbal techniques used. When in uncomfortable situation, nonverbal communications such as moody facial expression, disturbed posture, and confused use of gestures, indirect facial contact and unregulated body movements tend to dominate (Ungar, 2011). In counseling, the above listed nonverbal... Communication...
1 Pages(250 words)Assignment

Assignment #2 Ethics Version 2

...Assignment #2 ethics version 2 Ethical Scenario The research was conducted with the aim of identifying human cognitive conditions in different emotional states. The study revealed that psychological behaviour of individuals as per [APA 8.02. a] possess neutral, positive and negative emotional states while performing complex cognitive tasks. In addition, diverse psychological behaviour as per [APA 8.04. a] is identified amid participants when assigned with the task of imaging their loved ones in different positive and negative situation (Chapter 3, n.d.). Ethical Scenario 2 The study revealed about psychological behaviour as per [APA 8.08. a] in case of the excerpt depicting about...
1 Pages(250 words)Assignment


... ERG Theory and Maslow’s Hierarchy The needs of an individual influence the manner of their behavior. The ERG theory by Clayton Alderfer and the Maslow’s Hierarchy of needs by Abraham Maslow, have similarities and differences. One of the similarities of both theories is that they determine that the existence of needs acts as a motivation towards people’s behavior. Another similarity is that the results of the theories ensure the fulfillment of both physical and psychological needs of individuals (Baack, p. 23). In relation to the differences of the theories, the ERG theory determines that there exist three needs as compared to Maslow’s five needs in the hierarchy. Another difference is that the ERG theory considers a random... ERG Theory...
1 Pages(250 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Assignment #2 for FREE!

Contact Us