Figure 13-14 -According to Figure 13-14 Above, There Are Three Types of Three

question 28

Essay

Figure 13-14
-According to figure 13-14 above, there are three types of vertical marketing systems (VMS).List and provide a brief description for each one.

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Definitions:

Market Development Strategy

A growth strategy that employs the existing marketing offering to reach new market segments, whether domestic or international.

Competitive Advantage

The edge a business has over its competitors, allowing it to generate greater sales or margins and/or retain more customers.

Segmentation

The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors.

Targeting

The process of identifying and directing marketing efforts at a specific segment of the market that is most likely to purchase a product or service.