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

DevelopmentNEW Market

DevelopmentDiversification

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 G

RO

WTH

HIGHH

IGH

LOW

LOW

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!