Effective Marketing Strategies


Added on  2019-09-26

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ASSIGNMENT[Document subtitle]
Effective Marketing Strategies_1

1Answer 1:The example of PepsiCo can be taken in order to explain the effective strategy of marketing. Further, the company used Porter's generic strategy in order to come up with the products. The company initially offered the products at the minimum prices in order to attract thecustomers and further retain them for a longer period of time. The PepsiCo invested less in the resources, and the specialization helped the company to attain the benefits. Moreover, the company came up with the strong strategy of differentiation in order to compete with the strategyof Coca-Cola (Church et al., 2016). The PepsiCo decide to come with the various distinct products by simply modifying the ingredients, and this further helped the company to attain competitive edge for a longer period of time. Furthermore, the company focused on the niche strategy in order to focus more on the targeted segment to satisfy them and attain sustainability, and as a result, the company is doing wonders in the industry, and the conclusion is based on the success story of the company.Answer 2: Personally, I use the products of IKEA more frequently because I find the products more attractive and unique. Further, the products are available at the affordable prices. Also, it is being observed that the IKEA seems to be more consumer centric and offers the products according to the demands and the requirements of the customers to further satisfy them and retain them for a longer period of time to attain sustainability. After researching about the company, it is being observed that the results corroborate the personal experience with the brand as the company creates the base of loyalty to maximize the profitability and attaint he competitive edge (Logan, J. 2015). Moreover, the thing which is surprising in a positive way is that the IKEA takes the suggestions from the customers seriously and actually implement them to further retain them and develop a strong relation with them. Whereas some companies do not
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