1 page/≈275 words
Literature & Language
Kingsford Charcoa: Mr. Ford pitching his product idea to distributors Essay (Essay Sample)
The key strategy that every business needs to adopt is market development. This strategy involves serving old markets with new products. An organization that has already recorded success in one area may wish to expand its market territory. This can be done through innovation. Innovation can be referred to as the application of newly created products such as charcoal, which meet the upcoming requirements and existing needs in the market. Charcoal is a highly useful product that can be gladly accepted by citizens throughout the region (Narayandas, & Narayandas, 2006). As distributors, meeting the needs of the customers is beneficial because it sustains the business and keeps the customers loyal.
The success of many businesses entails the ability to make a purchase or sale decisions depending on available information for maximum gains. However, the ability to identify and use the right mixture of the various innovation solutions improves their processes and increases their profitability (Narayandas, & Narayandas, 2006). As the founder and manager of Ford Motor Company, I have noted that charcoal is a readily available and useable product that customers can utilize. This will be useful to them because it is cheaper than other kinds of fuel in the market.
In conclusion, it is notable...
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