Financial Analysis of Marketing Tactics
Although the first-year profit performance for HD’s new product was less than desired, management feels that this attractive market has excellent growth opportunities. Although the sales of HD’s product were lower than initially projected, they were not unreasonable given the size of the current market. Thus, HD wants to explore new marketing tactics to help grow the market for this product and increase sales for the company.
For example, the company could increase advertising to promote more awareness of the new product and its category. It could add salespeople to secure greater product distribution. HD could decrease prices so that more consumers could afford its product. Finally, to expand the market, ...
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