Marketing Techniques (P1/M1/D1)

Unit 3: Introduction to Marketing BTEC National Level 3 Award in Business Yr12 Miss 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 Objectives

By 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 PRODUCT NEW CURRENT NEW Market Penetration Market Development Product Development Diversification

LO1) Ansoff’s Matrix

Market 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 Matrix

Diversification: 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:

PRODUCT CURRENT NEW CURRENT Market Penetration Product Development NEW Market Development Diversification

LO2) TASK

You 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

HIGH MARKET SHARE LOW STAR QUESTION MARK CASH COW DOG

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!