Task Description
One of the most important questions faced by business leaders in the strategic marketing process is the choice of timing to launch new products/technologies and enter new markets. There are two options: to be a pioneer or to be a follower. Both have advantages and risks, and the relative success of each strategy depends on several factors, both internal and external.
Tasks: Answer the following essay questions
- What are the advantages of being a pioneer and a follower company? Provide examples of successful pioneer and follower companies.
- What product life cycle strategies do successful pioneer and follower companies implement to increase growth and maintain a strong competitive advantage? Provide examples of companies to support statements made.
Learning Outcomes
Upon the successful completion of this module, the student should be able to:
- Critically appraise key marketing activities and the contribution of the marketing department to the organisation.
- Anticipate and critically evaluate future developments in the field of marketing, especially through technology