SURVIVAL STRATEGY ADOPTION BY SMALL SCALE RETAIL OUT LET IN NIGERIA
CHAPTER ONE
INTRODUCTION
BACKGROUND TO THE STUDY
Survival strategy involves the development of a well-articulated marketing strategy plan for successful introduction of the product into the market. The strategy is not static and would most probably undergo refinement and modification in subsequent stages. The marketing strategy deals with the marketing mix co-ordinations that would be used. The market and the marketing budget. It could be broken down into sections, The first section should describe, the market, size, structure, behavior and the company’s intended share of the possible project consequent on that. The second part will delve deeper into the marketing mix component, the planned product quality that follows the first, the planned price, distribution and promotion strategy. The section should also include the marketing budget needed to carry out the strategy. The third section is a fall out from the previous two it describes the long run scales and profit goals based on the first on two section. This is the process that continues through development stage as new information is accumulated about the product and the market.
Several analytical tools are available to firm’s technique risk analysis and bayestan decision theory. They key to whether a product should be developed is whether it will find easily to sufficient market acceptance to return a satisfactory project to its firm. What are the expected minimums to maximum sales help determining risk involved. The models for estimating sales adopted by differ depending on whether they are designed to estimate the sales of one tune purchased products, in infriquenting purchased product, or a frequently product (kotlered 210). No matter what type of product the first task is to estimate first time purchased, many techniques are available for doing this, the method is to just estimate the market potential and then rate market penetration for each period. The factors like a price etc, which affect penetration, are considered.
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