chapter 2 homework

1.)    The difference between a market penetration strategy and a market development strategy is that a market penetration strategy targets current customers of the product or service while a market development strategy targets customers who either have been targeted by you or your competitors but simply have not been persuaded to buy; or they could be customers in segments that have not been pursued by you or the competitors in your product category.

2.)    A marketing plan is made up of objectives, customer targets, competitor targets, core strategies and the marketing mix. The main objectives should have a quantified standard of performance, have a clear time frame, stated in measurable terms, be ambitious enough to be challenging.