Name and describe three offensive strategic market plans and three defensive strategic market plans
What will be an ideal response?
The three offensive strategic market plans are:
1. Invest to Grow — invest marketing resources to grow the market or market share
2. Improve Position — invest to improve and strengthen competitive position
3 . New Market Entry — invest to enter new attractive markets or develop new product markets
The four defensive strategic market plans are (students can answer any three):
1. Protect Position — invest to protect market share and competitive advantage
2. Optimize Position — optimize price-volume and marketing resources to maximize profits
3 . Monetize — manage market position for maximum cash flow with limited marketing resources
4. Harvest/Divest — manage the product for maximum short-run cash flow or minimum losses
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