Marketing Techniques (P1/M1/D1) Unit 3: Introduction to Marketing BTEC National Level 3 Award in...
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Transcript of Marketing Techniques (P1/M1/D1) Unit 3: Introduction to Marketing BTEC National Level 3 Award in...
Marketing Techniques(P1/M1/D1)
Unit 3: Introduction to MarketingBTEC National Level 3 Award in Business
Yr12Miss Vincent
Competency Focus
Research (I1): pupils are required to conduct their own independent research on the different strategies their chosen businesses implements in order to meet their objectives.
Learning ObjectivesBy the end of today’s lesson, you should be able
to…
LO1) Identify the different tools used by businesses to analyse their growth products/markets (Guided)
LO2) Explain how these tools can help businesses to achieve their objectives (Regular - Strong)
LO3) Compare and contrast the growth strategies used in two different organisations
(Advanced)
Marketing Techniques
- Growth Strategies- Branding- Survival- Relationship Marketing
Marketing Techniques
Growth Strategies
Ansoff’s Matrix
BCG Product Portfolio
LO1) Ansoff’s Matrix
Igor Ansoff (1957) Looked at strategies for growing a business
CURRENT NEW
CURRENTMarket Penetration Product
Development
NEW Market Development
Diversification
PRODUCT
MAR
KET
LO1) Ansoff’s MatrixMarket Penetration: Achieving growth with existing product in existing market. For example: encouraging consumers to use the product more regularly/buy more of it!Market Development: Marketing existing products in new markets,
E.g. marketing product abroad or opening more branches
nationwide.
LO1) Ansoff’s MatrixDiversification:New products in new markets (spreads risk)
Product development:Marketing new/modified products in existing
markets.E.g. Ford Focus replaced Escort or Nestle KitKat Chunky Caramel.
LO1) Ansoff’s Matrix
Example: CURRENT NEW
CURRENT Market Penetration Product Development
NEW Market Development Diversification
PRODUCT
MAR
KET
LO2) TASKYou are the Marketing Director and Marketing Executive at Alton Towers.
In pairs, you MUST construct an Ansoff’s Matrix grid to present to your Managing Director (MV) to show what activities they are currently operating in and what might you suggest for future growth strategies and why!
Task Extension
The R&D Director has decided that the company should utilise the knowledge they have built up in engineering and branch out into formula 1 racing cars. Apply this to your matrix and explain the benefits of this strategy to the company.
LO1) BCG Product Portfolio
STAR QUESTION MARK
CASH COW DOG
MARKET SHARE
MA
RK
ET
GR
OW
TH
HIGHH
IGH
LO
WLOW
LO2) TASK
Working in pairs, you will be given a company and you will have to apply this company and its products to the BCG Portfolio.
(20mins)
P1 Part B
You should have now done your introduction to your presentation. For each of your companies, you have to explain the growth strategies that they have in place for ONE product. You should apply these to Ansoff’s & BCG Audit (i.e. Draw them!!!)
Add these to your presentation!