Ansoft Matrix

The strategy that I have chosen is Market Penetration. This is using existing products and existing markets. I am going to increase customer awareness about a Foxtel movies and generate usage amongst customers. This can be done by using social media and running campaigns such as buy one get one free, rewards with products, or use celebrity endorsement. For my product, I am going to use social media integration, Celebrity endorsement and rewards.

Ansoff Matrix is formulated on the basis of four market factors that directly affect the business of the company. It helps the company to determine these four factors and formulate their market and business strategies that further help them to increase their product line and business in the market place. Therefore, it is important for Tesco to focus on Ansoff Matrix to increase their working effectiveness (Taylor, 2011). These factors include,

Product Development as a marketing technique is where a business develops a new product to sell to existing customers. Such as, if a customer buys a Playstation game and then buys the expansion pack that offers more

The target for Market Penetration strategy is to increase the market share and sales revenues by putting more marketing efforts, increasing the sales forces, increasing advertising expenditure and launching more sales promotion campaigns to promote existing products and services in existing markets. That means, Products and services haven’t been changed nor enhanced. Instead, this strategy is intended to penetrate the existing market deeper and wider with existing company’s current products and services. Existing market means both new customers of existing market or existing customers in existing market. There are several methods for market penetration. Firstly, companies do some advertising on production

- Product Development- product development is composed of existing markets and new products, it occurs when an organisation with a current or existing market undertakes a strategy of creating a new product which provides

“Marketing strategies can have a broad impact on the business in terms of instilling a marketing orientation among all those in the firm: the way of thinking or philosophy of the whole organization. However, marketing strategies can alternatively be seen as dealing only with the development of competitive advantages directly associated with the marketing function such as customer loyalty and distribution channel control. In the latter case, the domain is sometimes even further restricted by sole attention to the various element of the marketing mix rather than the more general issues of customer and channel relationships. There are two key

New product development is crucial for a business to succeed. Firms that decide to introduce a new product to market must create a product-development strategy. The new offering of a product involves the same steps, but it will also depend on the size of the company and the type of product to decide if the product testing will be necessary before launching to market. The new

Marketing strategy and marketing are becoming more important elements to the business now than ever before, due to dynamic environment throughout the globe. The changes taking place in the political, social, economical and technological environment have a great impact on the businesses and posing great challenges to the business to survive in the dynamic market place as the world is transforming into the boundary less world. (Crittenden VL, Crittenden WF & Muzyrka DF, 2002)

Marketing strategy is a method of focusing an organization's energies and resources on a course of action which can lead to increased sales and dominance of a targeted market niche. A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm's marketing goals, and explains how they will be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target market segments, positioning, marketing mix, and allocation of resources. It is most effective when it is an integral component of overall firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in

The market penetration strategy is when a company is seeking to increase the market share for present products or services in present markets through greater marketing efforts. This is also an appropriate strategy for Wal-Mart to implement because they can take advantage of the bankruptcy of K-Mart. Through the increase of Wal-Mart 's

This strategy involves the development of the new products and the services in the current

In starting product use the penetration strategy because in market already lot have competitors. Company wants to attain the maximum market share

To overcome these obstacles, popularizing the product is the technique to adopt. But how to do it? Well-planned sales and marketing strategies can help companies grow. It is important that each leader implements different marketing techniques to succeed.

Product Development – The company markets new products to existing customers. Here the company should be innovative, responsive, and truly in touch with their customer’s ever changing wants and needs.

The strategic marketing management is the analytical way of learning that how to different type of strategies related to the customers and solutions of packages to fulfill the needs of customers. It is seeming very easier to reach the target customer of the company but most of the people related with marketing management field have less ability to create such compatible products which give meaningful results to the targeted customer in near future also. The recent competitive business environment requires to develop a more profitable marketing plan and this plan must hit the ground reality as well. Many researchers stated that it is the core principle of the successful marketing. In marketing management plan the marketer must see