Ansoff Growth matrix is a marketing planning method that helps a business determine its product and market growth strategy. The four different strategies are market penetration, product development, market development and diversification. Relationship marketing is a long term strategy that organisations use in order to build relationships with individual customers.
Market penetration
Tesco PLC sells branded cans of beans. Tesco beans are only sold in Tesco. This organisation pays money to people that make their beans so they can sell them in their own retailer. In this process, Tesco is selling more of its existing products to its existing customers but they also try to attract customers from their rivals in order to increase profit. This
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They create new products for new markets. For example, Oxfam hold fundraisers and other events to attract new donators which would be families as it is entertaining for them and this will encourage more people to attend which will increase the total amount of donations they will make.
In conclusion, Tesco’s aim is to maximise profit so that they can expand and end up as the number one retailer in the world. Whereas, Oxfam’s organisational goal is to create a world free from poverty. However, these two businesses have similarities because they both need to attract more customers and also want to be known in different countries to achieve their purpose.
Constrains and limitations
Constraints and limitations are things that hold a business up from achieving its potential. The phrase "legal constraint" applies to something that is restricted because of the law. A limitation is something that limits a rule or condition, it limits the quality or the achievement.
A voluntary constraint is when a company voluntary says they will never do this or they will always do that. These things do not have to be done but yet they do them anyway to give them a better reputation with the public. An example of this would be always recycling their used materials or paying their employees higher than minimum