Marketing Would Examine Each of Essay

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The last strategy I could employ would be to develop a technological shift in order to create a new product for my existing bike line. This requires R&D investment, but could result in significant first-mover advantages that increase market share and build competitive advantage. This would mean devising a new technology or design that could be incorporated into my off-road bikes.

I will use these strategies to develop three products. One will be gloves for off-road biking. These are essential equipment, and we can sell through our existing distribution channels. The next product will be a line of road bikes.

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We can leverage our production technology, reputation and distribution channels to enter this entirely new line of business. The third new product will be apparel. We have cultivated a strong brand image with our bikes, and feel that if we can translate that image to apparel, we can be successful. We will use existing channels, but will also have to develop new ones. However, the growth prospects are much stronger for this new product than the other ones we will be introducing.

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