M1 - Unit 3 - Introduction to Marketing
M1 - Unit 3 - Marketing Introduction - Introducing the Basics of Marketing
Introduction:
For this part of assignment I will compare similarities and differences of the marketing techniques both businesses carry out, even though Lidl and Tesco are in the same type of market, they achieve their market success in different ways.
Even though Tesco and Lidl marketing techniques are pretty similar they still have a difference from each other when they use the Ansoff Matrix, which is used when the business wants to grow or expand. Even though both businesses are nearly the same on their production and sales, they still try to be different from each other. For example, market penetration is when they want to increase market share of an existing product or promoting a new product they just released, they use strategies like bundling, advertising, promoting or offering discounts. Tesco recently created a tablet and are trying to promote it and advertise it to as many potential customers as possible where as Lidl just keeps concentrating on their current consumables and try to promote their current products which basically means market development, they just simply want to carry on what they are doing and develop their business by selling products in their existing markets.
This next marketing technique is product development, this is used by both businesses in nearly the same way because they want to introduce as many new products to their business to increase their growth which would leave to profits and business expansion however, Tesco developed the 'Hudl' which is a different type of market and Lidl does cannot compete with that market and this makes both businesses differ one from another.
Talking about Tesco and its new 'Hudl' tablet, Tesco will be struggling to find the new market in the electronics market because there are many other competitive businesses that have been already manufacturing and producing electronic goods like tablets and for Tesco this is
Introduction:
For this part of assignment I will compare similarities and differences of the marketing techniques both businesses carry out, even though Lidl and Tesco are in the same type of market, they achieve their market success in different ways.
Even though Tesco and Lidl marketing techniques are pretty similar they still have a difference from each other when they use the Ansoff Matrix, which is used when the business wants to grow or expand. Even though both businesses are nearly the same on their production and sales, they still try to be different from each other. For example, market penetration is when they want to increase market share of an existing product or promoting a new product they just released, they use strategies like bundling, advertising, promoting or offering discounts. Tesco recently created a tablet and are trying to promote it and advertise it to as many potential customers as possible where as Lidl just keeps concentrating on their current consumables and try to promote their current products which basically means market development, they just simply want to carry on what they are doing and develop their business by selling products in their existing markets.
This next marketing technique is product development, this is used by both businesses in nearly the same way because they want to introduce as many new products to their business to increase their growth which would leave to profits and business expansion however, Tesco developed the 'Hudl' which is a different type of market and Lidl does cannot compete with that market and this makes both businesses differ one from another.
Talking about Tesco and its new 'Hudl' tablet, Tesco will be struggling to find the new market in the electronics market because there are many other competitive businesses that have been already manufacturing and producing electronic goods like tablets and for Tesco this is