Igor Ansoff developed a description of the strategies available for growing in a business in 1957. He have identified for categories for the growth of the business these are Market Penetration, Market Development, Product development and Diversification. Ansoff used these four categories in a matrix to show how the opportunities differ in term of new and existing products and markets.
Marketing Techniques used by ASDA
What is Market Penetration?
Market Penetration is when increasing market share of an existing product, or promoting a new product, through strategies such as bundling, extensive advertising, lower prices, or volume discounts. ASDA uses TV adverts to advertise their product. Advertising on TV will catch the interest of their customers as it will have sound and colour. They also use their own website to advertise. By having a website it will allow their customers to see what products they have with prices and also to shop online. They also let their customer know what product they have and also to promote by giving out leaflets. To make sure that their new products are trustworthy ASDA will have samples for their customers to try. ASDA will advertise their business by using newspapers and Billboards. ASDA should advertise as much as possible for the business to run for a long term. They also make sure that they are presenting their brands well from till receipts, plastic bags and staff uniform.
Cancer Research sells its existing products into existing markets by advertising their new campaigns such “Race for Life”. The charity advertises their campaigns on TV’s, Newspapers, Leaflets, Charity shops, posters, billboards on busses and using their own website. Cancer research uses these methods...