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The concept of cards in India was limited to festivals and birthdays. Archie’s aggressively promoted cards more as a medium of communication than as a way to merely sending Good Wishes. Which of the following strategy is followed by Archie that helped it to grow its existing customer base to buy the same product?
- a)Market development strategy
- b)Integrative Expansion strategy
- c)Product development strategy
- d)Penetration strategy
Correct answer is option 'D'. Can you explain this answer?
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The concept of cards in India was limited to festivals and birthdays. ...
Penetration strategy:
- Archie's promoted cards as a medium of communication rather than just for special occasions.
- By emphasizing the value of cards in everyday communication, Archie's aimed to increase the frequency of card purchases by existing customers.
- This strategy focused on increasing market share by encouraging existing customers to buy more of the same product.
- The goal was to deepen customer loyalty and increase sales volume.
- By positioning cards as a regular means of communication, Archie's aimed to increase customer engagement and create a habit of card-giving.
- This strategy helped Archie's grow its existing customer base by increasing the frequency of purchases and increasing customer loyalty.
- Archie's promoted cards as a medium of communication rather than just for special occasions.
- By emphasizing the value of cards in everyday communication, Archie's aimed to increase the frequency of card purchases by existing customers.
- This strategy focused on increasing market share by encouraging existing customers to buy more of the same product.
- The goal was to deepen customer loyalty and increase sales volume.
- By positioning cards as a regular means of communication, Archie's aimed to increase customer engagement and create a habit of card-giving.
- This strategy helped Archie's grow its existing customer base by increasing the frequency of purchases and increasing customer loyalty.
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The concept of cards in India was limited to festivals and birthdays. ...
Understanding Archie’s Growth Strategy
Archie's success in expanding its customer base can be attributed to its effective use of a penetration strategy. This approach focuses on increasing market share for existing products within current markets.
What is a Penetration Strategy?
- A penetration strategy involves setting lower prices or enhancing the product's appeal to encourage existing customers to buy more.
- The goal is to attract a larger audience and increase usage frequency.
How Archie Implemented This Strategy:
- Promotion of Cards as Communication Tools:
Archie’s marketing campaigns emphasized that cards are not merely for special occasions but also serve as everyday communication tools. This shift transformed the perception of cards among consumers.
- Increased Frequency of Purchase:
By promoting cards for various everyday situations (like apologies, congratulations, or just because), Archie encouraged regular purchases instead of limiting them to festivals and birthdays.
- Competitive Pricing:
To make cards more accessible, Archie likely adopted competitive pricing strategies, enabling more consumers to buy cards frequently without financial hesitation.
- Emotional Connection:
The brand built emotional resonance around card-giving, making it a go-to product for individuals wanting to express feelings, thus fostering habitual buying behavior.
Conclusion
Through effective marketing and strategic positioning, Archie successfully used a penetration strategy to broaden its consumer base. By redefining the purpose of cards and encouraging everyday use, they not only enhanced customer engagement but also significantly increased their market share in the greeting card industry.
Archie's success in expanding its customer base can be attributed to its effective use of a penetration strategy. This approach focuses on increasing market share for existing products within current markets.
What is a Penetration Strategy?
- A penetration strategy involves setting lower prices or enhancing the product's appeal to encourage existing customers to buy more.
- The goal is to attract a larger audience and increase usage frequency.
How Archie Implemented This Strategy:
- Promotion of Cards as Communication Tools:
Archie’s marketing campaigns emphasized that cards are not merely for special occasions but also serve as everyday communication tools. This shift transformed the perception of cards among consumers.
- Increased Frequency of Purchase:
By promoting cards for various everyday situations (like apologies, congratulations, or just because), Archie encouraged regular purchases instead of limiting them to festivals and birthdays.
- Competitive Pricing:
To make cards more accessible, Archie likely adopted competitive pricing strategies, enabling more consumers to buy cards frequently without financial hesitation.
- Emotional Connection:
The brand built emotional resonance around card-giving, making it a go-to product for individuals wanting to express feelings, thus fostering habitual buying behavior.
Conclusion
Through effective marketing and strategic positioning, Archie successfully used a penetration strategy to broaden its consumer base. By redefining the purpose of cards and encouraging everyday use, they not only enhanced customer engagement but also significantly increased their market share in the greeting card industry.
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The concept of cards in India was limited to festivals and birthdays. Archie’s aggressively promoted cards more as a medium of communication than as a way to merely sending Good Wishes. Which of the following strategy is followed by Archie that helped it to grow its existing customer base to buy the same product?a)Market development strategyb)Integrative Expansion strategyc)Product development strategyd)Penetration strategyCorrect answer is option 'D'. Can you explain this answer?
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The concept of cards in India was limited to festivals and birthdays. Archie’s aggressively promoted cards more as a medium of communication than as a way to merely sending Good Wishes. Which of the following strategy is followed by Archie that helped it to grow its existing customer base to buy the same product?a)Market development strategyb)Integrative Expansion strategyc)Product development strategyd)Penetration strategyCorrect answer is option 'D'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about The concept of cards in India was limited to festivals and birthdays. Archie’s aggressively promoted cards more as a medium of communication than as a way to merely sending Good Wishes. Which of the following strategy is followed by Archie that helped it to grow its existing customer base to buy the same product?a)Market development strategyb)Integrative Expansion strategyc)Product development strategyd)Penetration strategyCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The concept of cards in India was limited to festivals and birthdays. Archie’s aggressively promoted cards more as a medium of communication than as a way to merely sending Good Wishes. Which of the following strategy is followed by Archie that helped it to grow its existing customer base to buy the same product?a)Market development strategyb)Integrative Expansion strategyc)Product development strategyd)Penetration strategyCorrect answer is option 'D'. Can you explain this answer?.
The concept of cards in India was limited to festivals and birthdays. Archie’s aggressively promoted cards more as a medium of communication than as a way to merely sending Good Wishes. Which of the following strategy is followed by Archie that helped it to grow its existing customer base to buy the same product?a)Market development strategyb)Integrative Expansion strategyc)Product development strategyd)Penetration strategyCorrect answer is option 'D'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about The concept of cards in India was limited to festivals and birthdays. Archie’s aggressively promoted cards more as a medium of communication than as a way to merely sending Good Wishes. Which of the following strategy is followed by Archie that helped it to grow its existing customer base to buy the same product?a)Market development strategyb)Integrative Expansion strategyc)Product development strategyd)Penetration strategyCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The concept of cards in India was limited to festivals and birthdays. Archie’s aggressively promoted cards more as a medium of communication than as a way to merely sending Good Wishes. Which of the following strategy is followed by Archie that helped it to grow its existing customer base to buy the same product?a)Market development strategyb)Integrative Expansion strategyc)Product development strategyd)Penetration strategyCorrect answer is option 'D'. Can you explain this answer?.
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