Market Development

In this report I will be analysing and comparing the marketing techniques used by ASDA and Cancer Research UK taking into account the similarities and differences between them and how they contribute to the company’s success. 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 Market Penetration 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 â€Å"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 of advertising to increase the awareness and encourage people to donate. Tesco have supported Race For Life for ten years, which has contributed to Cancer Research UK raising over ? 62m for the fight against cancer sine the series began in 1994. Tesco now is working in partnership with Cancer Research to recruit 1 million women and raise ? 80million to fund life-saving work. Market Development What is Market Development? Market Development is a marketing technique aimed at increasing a company’s market in order to widen the customer base for the pur pose of selling more products. ASDA is continuing to open new stores in UK. They are now planning to open ASDA in Tottenham High Street. Opening new stores gives the idea of them doing really well in the business and is meeting the needs of their customers. They also advertise themselves online and in the store. However, they can use different languages on website for the people who are not able to understand English. As there are different ethnic backgrounds in UK, Cancer research should have different languages available in their website. This will allow them to attract more people to the charity from different ethnics. Cancer research can also operate overseas such as Europe. This will help to