Limitations of Marketing
There are various theories in regards to marketing and the techniques used out of the various techniques different businesses choose different theories to take on board which depends on the culture and traditions of business. Factors such as legislation and ethical morals might also affect how a business might use market techniques.
The following are some of the techniques:
Growth strategies
Igor Ansoff created one of best-known descriptions of the strategies available for growing a business in 1957. He identified four categories for growth.
Market Penetration: a Market is group of customers who may purchase a product, so for example if Apple were producing Apps for the iPhone or iPod their market would be anybody who owned an iPod or an iPhone. They can increase the number of people in the market who bought their product.
Market development: if Apple already sold Apps in the United States, to introduce it to the United Kingdom, they would be marketing to an existing product to a new market.
Product Development: This is when Apple markets a new product to the existing customers for example in the States people already bought the Apple iPhone they may decide bring out a new version of that iPhone with more functions and facilities.
Diversification: Apple may wish bring out a new product completely different from the iPod or the iPhone which it will market to a completely new group of people - a new market.
1.1 Internal planning factors
These relate to the events and schemes that are happening inside the business. These schemes may be designed to help employees learn new skills to developing technologies or train a staff to use a new piece of software.
It is also the method of being aware of the new skills that will be required in the future or the ones that are already required by current staff and how or what methods could be used to train the staff to acquire these methods. This is also way of measuring the gap space between the skills
The following are some of the techniques:
Growth strategies
Igor Ansoff created one of best-known descriptions of the strategies available for growing a business in 1957. He identified four categories for growth.
Market Penetration: a Market is group of customers who may purchase a product, so for example if Apple were producing Apps for the iPhone or iPod their market would be anybody who owned an iPod or an iPhone. They can increase the number of people in the market who bought their product.
Market development: if Apple already sold Apps in the United States, to introduce it to the United Kingdom, they would be marketing to an existing product to a new market.
Product Development: This is when Apple markets a new product to the existing customers for example in the States people already bought the Apple iPhone they may decide bring out a new version of that iPhone with more functions and facilities.
Diversification: Apple may wish bring out a new product completely different from the iPod or the iPhone which it will market to a completely new group of people - a new market.
1.1 Internal planning factors
These relate to the events and schemes that are happening inside the business. These schemes may be designed to help employees learn new skills to developing technologies or train a staff to use a new piece of software.
It is also the method of being aware of the new skills that will be required in the future or the ones that are already required by current staff and how or what methods could be used to train the staff to acquire these methods. This is also way of measuring the gap space between the skills