P1 P2 Unit 3 Introduction to Marketing

* Online marketing is now the fastest-growing form of marketing. Marketers have ventured online to attract new customers and build stronger relationships with existing ones. “Brick and mortar companies” have now become “click and mortar companies. The technology boom is providing exciting new opportunities for marketers.

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,

This paper will introduce a product and service which operates in the U.S. with the intent to expand within foreign markets eventually. The service that I chose is a current service in the food service industry that does exist but would benefit from enhancing it; there are market trends for the new service that would definitely satisfy potential customers’ needs and wants once the idea is brought to their attention. The goal is to bring the feel of the city’s fine dining and lounging experience to areas outside the city without having to travel far or spend more. The service is an

Market research indicates decisions made by a business, in this case Tesco, by helping the decision makers understand undercurrents of its market. This process involves research done on customers, competitors and the overall marketing environment.

Firms have developed ways to influence consumer demand which effect supply, one such technique is demarketing or the process of reducing consumer demand for a product to a level that the firm can reasonably supply.

These refer to the limitations and restrictions that may prevent a business or organisation from certain actions. (Mrs Atkins)

Apple was established as an IT company dealing in exclusively in computers. However, competition in the technology sector forced the firm to focus on other consumer products. The diversification strategy has seen Apple’s sales grow tremendously in the last decade, earning the firm the No. 1 brand position at Forbes. The Apple brand is recognized on an international scale and enjoys a strong recognition thanks to its aggressiveness when it comes to creativity and innovation (Tar, 2013). It has a large number of loyal customers who would purchase the new products regardless of the market price, which guarantees profits from the new division.

The brand identity can used to drive and guide strategic initiatives throughout the firm, to differentiate the firm’s products and create a competitive advantage, to drive the committed to customer, to support the firm’s values and culture, and to support an easier protection of the brand (Danciu, 2010). Apple’s good brand identity strategy has provided supports to its unique position and its products in the global market. Apple has ranks as the top ‘Luxury Brand’ in China and many people are desired to own the products of Apple due to its luxury identity (Kedmey, 2015). Even though Apple has charge high prices for its products to customers, but customers are willing to buy as it provide innovative and better quality of products in terms of privacy, systems, application, and functions which easy to win the customer’s respect and loyalty. The distribution and retail strategy of Apple made it successful (Denning, 2011). There are four main distribution channels for Apple of its products, which are an online store, its retail store, direct sales, and third party wholesalers, which are easy to distribute its products to consumer. The store of Apple is intensive to control the ways that employees interact with customers, scripted training for on-site tech support, and consideration of every store detail down to the pre-loaded photos and music on demo devices. It also creates a carefree and

Ansoff’s Matrix is a useful tool for analysing the approach to the marketing strategy of a business. The matrix puts markets against products and will suggest one of four marketing strategies for the business to follow.

Apple implemented the marketing concept by focusing on customers’ needs through imagination, design, and innovation creating an emotional brand for its customers. Even though Apple is a technological company it takes a humanistic approach to satisfying the needs of its customers far better than the competition.

The three intensive strategies are Market Penetration, Market Development, and Product Development. These are used to increase the company’s competitive position in the market, increase the market share and sales revenue by different strategies.

Even though Apple has encountered many setbacks, it continues to bring new and improve products to the market. Apple’s competitive strategy has been innovation. They have made an extraordinary effort developing, implementing, and executing its very unique strategy through innovation which has resulted in new product, and the enrichment of the existing ones. More specifically, Apple attempts to meet and supply the needs of a global market, by offering eager and enthusiastic consumers with innovated and high-quality products and services. Apple has employed a differentiation strategy linked to innovation with its three core products (computers, personal media player, mobile phones, tablets and other accessories). A key piece of their strategy involves meeting the needs of the converging digital electronics and computer markets. Apple has elected to implement its strategy by designing and developing proprietary operating systems and software technologies, thus allowing for strict protection of its intellectual rights.

Nowadays, Apple has positioned itself to be an innovator in the personal computer industry and Apple has developed by offering modern products compared to its competitors. According to Apple’s mission statement last year, “Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App store, and is defining the future of mobile media and computing devices with iPad.” (Business Management,

The traditional view of marketing is that the firm makes something and then sells it. A) Will not work in economies where people face abundant choice. B) New

Market Penetration: It focuses on expanding sales of the existing product in firms existing market. This can be achieved by a combination of pricing strategy , sales promotion and marketing and the objective of the firm is to be the dominant player in that market by driving out the competitors and increasing the loyal customer base. This would make it less risky and require less market research for the firm to expand as it can utilize its existing resources