Discuss the following types of marketing strategy with appropriate examples; 1. Market and product development 2. Push and pull strategy 3. Distribution systems 4. Pricing.

Certainly! Let's delve into each of these marketing strategies and provide examples to illustrate their applications. ### 1. Market and Product Development **Market Development** refers to the strategy of entering new markets or segments to sell existing products. **Product Development** involves creating new products to serve existing markets. **Example:** - **Market Development:** Coca-Cola has expanded its market by entering various countries, targeting local consumers with tailored marketing campaigns. For instance, they developed specific flavors and promotional strategies in India, respecting local tastes and cultures to grow its presence there. - **Product Development:** Apple frequently introduces new products catering to its existing customer base. For example, the introduction of the Apple Watch allowed Apple to venture into the wearables market, providing additional value to loyal customers who were already using iPhones and other devices. ### 2. Push and Pull Strategy The **Push Strategy** involves using promotional tactics to push products into retailers and ultimately to consumers, while a **Pull Strategy** focuses on creating demand among consumers, prompting retailers to stock the product. **Example:** - **Push Strategy:** A manufacturer of a new soda might provide retailers with incentives like discounts or promotional displays to ensure their product is stocked prominently on shelves. Red Bull often uses push strategies through sponsorships, events, and promotions to get their products in front of consumers directly. - **Pull Strategy:** A classic example of a pull strategy would be Apple's launch events for their new products. The high anticipation and marketing efforts create significant demand among consumers, leading them to demand iPhones and other Apple products from retailers. ### 3. Distribution Systems Distribution systems refer to the methods and channels through which a company's products or services reach the consumers. **Example:** - **Direct Distribution:** Dell Computer once thrived on a direct-to-consumer model, allowing customers to customize their computers online and have them shipped directly. This approach minimized costs and maximized customer satisfaction. - **Indirect Distribution:** Procter & Gamble utilizes a combination of wholesalers and retailers to distribute its consumer goods. Products are available in supermarkets, pharmacies, and various retail outlets, ensuring they reach a wide audience. ### 4. Pricing Pricing strategy involves setting a price for a product or service that reflects its value, competes in the market, and meets the company's financial goals. Various pricing strategies include penetration pricing, skimming, value-based pricing, and competitive pricing. **Example:** - **Penetration Pricing:** Netflix initially used this strategy by offering low-priced subscription plans to attract a significant customer base before gradually increasing prices as they gained market loyalty. - **Skimming Pricing:** When launching the PlayStation 5, Sony used a skimming strategy by pricing it relatively high initially to maximize profits from early adopters before potential price reductions for broader market penetration. - **Value-Based Pricing:** Brands like Tiffany & Co. employ value-based pricing, setting prices based on perceived value rather than purely on production costs. Their high-end marketing and brand perception allow them to charge premium prices for their products. ### Conclusion These marketing strategies—market and product development, push and pull strategies, distribution systems, and pricing strategies—offer businesses various avenues for growth and consumer engagement. By understanding these strategies and applying them effectively, companies can navigate competitive markets successfully.