Marketing is promoting, advertising, and selling a product. The reason for marketing it to identify the customer needs and fulfil them by providing the best products or service for a valuable price. The idea of marketing is to increase the number of customers and make more profit. Growth Strategy is when a business uses strategies to help increase the amount of profit they make or to increase the amount of customers they have. They do this by using strategies from Ansoff Matrix. The strategies from Ansoff Matrix are; market penetration, market development, product development and diversification. These are examples of the strategies business’ use to grow. Survival strategies in terms of business help the business’s retain the existing customers …show more content…
For example Maryland cookies have their distinctive red packaging and are sold all over the uk, aldi have their cookies which have the same colour packaging with the similar contents on the packaging. Aldi use transactional marketing by putting on special offers to draw customer in and buy the products. They don’t invest in wanting the customers to definitely come back and shop again as they rely on people to come and get products which they have on offer because they are selling the product cheaper than everyone else. Tesco uses strategies from the Ansoff matrix. One of them is diversification; this is because they have started doing car insurance. This will be advertised to a totally new market and the product which they are offering (insurance) is not something they are known for selling. Another strategy Tesco uses from the Ansoff matrix is market penetration. This is because they advertise existing products on billboards and on TV advertisements. Tesco use branding by making a large variety of products themselves. They use this to sell the products which they make a lot cheaper than other products which are similar. Tesco use transactional marketing by putting things on offer for a limited amount of time so they can sell the chosen products as quick as