International Conference on Eurasian Economies
2-4 September 2020 – Baku - AZERBAIJAN
Paper properties
Paper ID : 2457
Status : Paper published
Language : English
Topic : Sectoral Analyses
Presenter: Ph.D. candidate Rana Mikailova
Presentation Location : Online
Session : 1B Management
Methods of Segmentation and Positioning in the Product Market with Access to a New Foreign Market
Methods of Segmentation and Positioning in the Product Market with Access to a New Foreign Market
- Ph.D. candidate Rana Mikailova (Azerbaijan State University of Economics, Azerbaijan)
Abstract
Entering a new foreign market has always remained an urgent problem. The interrelation of the internal and external commodity market is an important condition for the successful development of the economy of any country. Foreign experience shows that various strategic approaches are used for this purpose. The basic basis of the strategic approach is the systematic coverage of the product market, which includes undifferentiated marketing, differentiated marketing and concentrated marketing. Below we will consider in more detail the above strategic approaches to coverage of the product market. In particular, it is considered when an enterprise refuses features and explores the entire market from the position of a single approach. Differentiated marketing tactics are not about identifying a single need, but a general one. These include the formation of a product and a marketing program that will be useful to a significant number of consumers. A distinctive feature of differentiated marketing is that the company operates in a number of market segments and forms a distinctive offer for them. This approach is based on offering different products to the market in order to increase sales and penetrate deeper into the development of product market segments. Finally, concentrated marketing provides an opportunity for businesses to discover an additional opportunity that is more attractive from a resource constraint perspective. It is manifested by the concentration of efforts on a small share of a large commodity market.
JEL codes: A10
Mikailova, Rana (2020). "Methods of Segmentation and Positioning in the Product Market with Access to a New Foreign Market" in Proceedings of International Conference of Eurasian Economies 2020, pp.195-199, Baku - AZERBAIJAN.
DOI: https://doi.org/10.36880/C12.02457
