Week 6 Discussion- Marketing for Competitiveness

Marketing For Competitiveness

Week 6 Discussion

Market Share

Why are marketing strategies important? Companies use marketing strategies to increase their profitability by growing their market share. A higher market share can create a strong advantage for an organization. If a company releases a product or service for which there is a demand, then that means more people will purchase it (generating more revenue), it will be easier to advertise (reducing ad spending), and it will be more difficult for competitors to compete against (solidifying the organization’s position in the marketplace). Companies rely on effective strategies to increase market share, such as innovating with their products, developing and maintaining good relationships with their customers, and outperforming their competitors. In this Discussion, you will consider how a specific company could benefit from increasing its market share, as well as provide recommendations for how to do so.

To prepare for this Discussion:

• Select a company you are familiar with or one that is well-known that you feel could benefit from increasing its market share. 

Post an evaluation of marketing strategies for capturing market share for a company, to include the following:

• Provide a brief description of the company you selected.
• Explain how you think the company could benefit from increasing its market share.
• Justify at least three recommendations that the company could incorporate to increase its market share.