In this unit I will be analysing the different marketing techniques that are used in businesses, in this case Tesco and Uber, and I will be also researching how these companies use the market to their advantage and try beating competitors.
Ansoff’s Product Matrix:
This consists of four sections which include Market Penetration, Product Development, Market Development and Diversification.
As you can see on the table there are 4 potential outcomes when using the Ansoff’s Matrix which include ‘Existing Product’ and ‘Existing Markets’, which are not risky at all, or there is the option of joining a ‘New Market’ and creating a ‘New Product’, which are high risk high reward methods usually for companies that can’t be effected if these methods do not work.
Describe the Marketing Techniques Are Used To Market Products In 2 Organizations [P1]
Market penetration is the percentage of customers a company has in a target market, for example 87.6% of people in the OS Market Share 2016 use Android smartphones while 11.7% use IOS. Lowering product costs, creating products with better quality and advertising is all used to increase market penetration but not all companies want to gain new customers, instead they prefer keeping their current customers. Tesco are very different from other companies because they believe that it’s much better to keep customers rather than paying for advertising to attract new customers, although they do sometimes try and take customers away from other competitors. The most important method that keeps customers shopping in Tesco is there high quality products and service which make customers feel like they are getting the attention they deserve. Uber however had taken advantage of accessib...
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...xi to bring their food and every step of the way can be analysed with a map in the app that’s shows how far away your food is. At first no one saw the point in ordering food with Uber eats but it proves to be much more convenient than ‘Just Eat’ or ‘Hungry House’ if you want to order food while you are out and about.
Describe the Limitations and Constraints of marketing [P2]
Uk legislations are normally carried out by a respected company that’s called ASA or the Advertising Standards Authority. ASA Always checks ads in all media and regularly carry out surveys of advertisements of adverts that might be socially unacceptable or do not follow the legislations. In this task I’m going to be explaining the different Limitations and constraints of marketing.
Consumer Rights Act (2015):
The consumers right act came into force on October 1st 2015. It’s an act that’s states
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