Marketing Strategies Penetration - Nkjv Bible

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Marketing Strategies Penetration - Nkjv Bible

Dr.
11/04/99
TR 2:30-3:45
Marketing Strategies
Penetration
Thomas Nelson uses different marketing strategies to penetrate the market to
increase sales. The NKJV Bible is aggressively marketed when the product falls short of
sales goals or the company is trying to break into a new market. They use strategies such
as paying Christian music groups to encourage and sell the Bible while they are on tour
singing. The most important strategy is the NKJV relaunch. This technique is a
promotional that pushes extra advertising through different avenues such as bookstore
displays, magazines (Christian retail and consumer magazines), increasing advertising on
TV/Radio, and direct mailing.
Market Development
The NKJV Bible has covered all the markets that were intended by Thomas
Nelson. Unless something new occurs in the industry they cannot sell there. The product
is at a mature stage of development. They have different market divisions that sell the
Bible all over the world. The International Division sells translated versions into other
languages. The Trade Division sells the NKJV to bookstores everywhere with an
established relationship. The Mass Marketing Division sells the NKJV to businesses,
non-profit and profit, and all ministries. The Direct Division sells the NKJV through
telemarketing and direct mailing.
Product Development
Thomas Nelson is always trying to find out new and improved ways to satisfy the
customer through product development. The Marketing Division team is constantly
studying the market and researching what products they like and how to fulfill consumer
needs. During this process the Publishing Division meets with the Sales Division to find
out what the consumer needs. After this is done they take a new idea to the board. One
of the most recent developments is a new Bible for children that have a night-light so
they can read it at night. Another new product is the girls Bible that has a strap like a
purse. Thomas Nelson is constantly trying to find new ways to satisfy consumer needs
through R&D.
Diversification
Thomas Nelson has a wide variety of products that help diversify what they sell.
They sell many different styles of the NKJV Bible such as the adult version, a child's
version, and a Bible for toddlers. They also sell Bibles for certain denominations like the
Catholic Bible and the Greek Orthodox Bible. Each Bible can be found in different...

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