Marketing Planning and Practice
Marketing Planning and Practice UMKDQD-15-2 Week 5 Webinar
Presented by
Michelle Jackson/Mike Healey
w/c 8 March 2021
Plan for Today’s Webinar
This webinar will give you some guidance on application of one of the strategic models widely used in marketing plans – the Ansoff Matrix
Opportunity for any questions arising from the webinar or general questions around the module
Strategic Models
There are a series of models that would be suitable for you to include in your plan.
In the lecture, three were outlined
Porter’s Generic Strategies and Bowman’s Clock
(Competitive strategies)
Ansoff Matrix
(Product-Market strategies)
The Ansoff Matrix
Strategic direction
‘Ansoff Matrix’ is one of the most useful as it identifies 4 basic growth strategies
Organisations may use more than one!
Identifies alternative growth strategies by looking at present and potential products in current and future markets.
Market Penetration
Selling existing products to existing consumers
Product Development
Selling new products to existing consumers
Market Development
Selling existing products to new types of consumer
Diversification
Selling new products to new consumers
The Ansoff Matrix
In groups (randomly assigned) using Apple Inc, apply the Ansoff Matrix.
Brief review of the model first.
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Ansoff Matrix
Market Penetration
Existing products – existing markets
Least risky
Marketing activity - e.g. price promotions/incentives
As the market become saturated – you may need other strategies, e.g. Increase share of the market, quality, or customer loyalty improvement
Market Development
Existing product – new market
New markets (can include):
Segments
Distribution channels
Overseas markets
Geographic markets
New uses
Ansoff Matrix
Product Development
New product – Existing market
Add value to existing products/services
Increasing product range to your current customers
Invest in R&D, modifications or extensions.
Diversification
New product – New market
High risk
May be essential for survival
Create new business units. Into related businesses or into unrelated businesses.
The Ansoff Matrix
A short video (6 mins) outlining the Ansoff matrix and includes some examples to illustrate application of the matrix
Although the examples are dated, it is the principle of application that is important here
Activity: The Ansoff Matrix
In groups, for the organisation Apple Inc, identify one potential strategic idea for each of the following (if time permits):
A market penetration strategy
A market development strategy
A product development strategy
A diversification strategy
I’ll ask for examples in the chat when I bring to back.
You have 10 minutes.
Ansoff Matrix
Market Penetration
Selling existing products to existing consumers
Product Development
Selling new products to existing consumers
Market Development
Selling existing products to new types of consumer
Diversification
Selling new products to new consumers
Next Week
We will consider the next section of the marketing plan – the tactics
Aim to complete your insight analysis (if you haven’t already)
It may not be perfect but a good draft is fine – you can refine it later
Write your objectives
Apply your chosen strategic model
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Any Questions?
You can stay with the webinar session if you have questions (audio is preferred but you can use the chat box too).
If not please feel free to leave the session. There will be opportunities to ask questions at the end of every webinar session.