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Defensive strategy is defined as a marketing tool that helps companies to retain valuable customers that can be taken away by competitors. [1] Competitors can be defined as other firms that are located in the same market category or sell similar products to the same segment of people. [1]
Consumers aren't the only ones dealing with the pressure of rising costs. Small business owners are also feeling the pinch. According to a Biz2Credit study called "Small Business Inflation Study In...
Unlike the acquiring of new business, cross-selling involves an element of risk that could disrupt the relationship of existing clients. For that reason, it is important to ensure that the additional product or service being sold to the client or clients enhances the value the client or clients get from the organization.
Account executive is a role in sales, advertising, marketing, and finance involving intimate understanding of a client company's objectives and products and a professional capability to provide effective advice toward creation of successful promotional activities and strategies. [1]
This week is Consumer Protection Week, when a group of nonprofits and government agencies come together to highlight critical issues ranging from identity theft to dodgy debt collector practices.
In simpler terms, it seeks to increase its market share in the existing market landscape. It involves attracting new customers, retaining existing ones, or acquiring competitors to capture more of the existing market. To achieve increased sales for its current products, the company adopts more assertive promotion and distribution strategies. [3]
Get breaking Business News and the latest corporate happenings from AOL. From analysts' forecasts to crude oil updates to everything impacting the stock market, it can all be found here.
The grid/matrix is utilized across businesses to help evaluate and determine the next stages the company must take in order to grow and the risks associated with the chosen strategy. With numerous options available, this matrix helps narrow down the best fit for an organization.