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Management

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1. Outline how strategic alliances can provide options for marketing opportunities and include two examples of alliances (also known as cooperative business models) that can be formed between businesses. 2. Outline how the development of existing products or services can provide marketing opportunity options for a business, both in existing and new markets. Relate your answer to relevant diversification strategies from the Ansoff matrix. 3. Outline how a takeover can create options for marketing opportunities for a business. 4. Outline key information that a franchiser should consider providing when marketing their franchise opportunity. 5. Outline how a company can use the establishment of a new business as an opportunity for marketing. Provide an example to illustrate your answer. 6. Outline two other marketing opportunity options that a business could choose to pursue other than options explored in the questions above. 7. Explain the importance of the product life cycle concept in marketing. Name and explain each of its stages. 8. Explain the importance of considering the marketing mix when bringing products or services to the market. 9. As most businesses have the objective to sell as many products as possible, outline key factors that a company should consider in determining the product component of the marketing mix.