Marketing Strategies in Coca Cola and Apple
P Jones
MARKETING AND THE MARKETING STRATEGIES IN TWO FAMOUS COMPANIES
Many businesses aim to grow and improve by the way they market their products this is called growth strategy. One of the best know descriptions is the Ansoff Matrix, created by Igor Ansoff in 1957.
The Ansoff matrix consists of four main points:
Market Penetration
A business will penetrate an existing market with a new product that is related to an existing product that is successful in that market.
Market Development
By aiming your product at a completely new range of customers without changing the product at all. Businesses do this to attract customers from rival companies.
Product Development
A company will have an existing product and adapt problems of the previous version to meet customer need.
Diversification
A business will diversify by creating a brand new product and marketing it is already familiar market or in a completely new market altogether.
Branding
This is the process of creating a unique name and image that keeps consumers remembering the product. Often these names or logos are trademarked to prevent competitors from using similar branding. A classic example of great branding is Heinz. The slogan ‘beanz meanz Heinz’ was used originally in 1967. It is considered to be one of the most successful advertising campaigns ever because of the way it influenced buyer behaviour. Huge numbers of adults still relate to the slogan 35 years on.
Brand Building takes time and effort, the company has to decide the brand’s values. For example, Mercedes cars branding is that their cars stand for high performance, safety and prestige.
How does a company convey the values? A consistent style, very specific, using specific fonts in adverts, training staff to present a specific image, a product that is both of good quality and can be relied upon. Hewlett Packard produces good quality computers. Once they had established their place in the market the company were
MARKETING AND THE MARKETING STRATEGIES IN TWO FAMOUS COMPANIES
Many businesses aim to grow and improve by the way they market their products this is called growth strategy. One of the best know descriptions is the Ansoff Matrix, created by Igor Ansoff in 1957.
The Ansoff matrix consists of four main points:
Market Penetration
A business will penetrate an existing market with a new product that is related to an existing product that is successful in that market.
Market Development
By aiming your product at a completely new range of customers without changing the product at all. Businesses do this to attract customers from rival companies.
Product Development
A company will have an existing product and adapt problems of the previous version to meet customer need.
Diversification
A business will diversify by creating a brand new product and marketing it is already familiar market or in a completely new market altogether.
Branding
This is the process of creating a unique name and image that keeps consumers remembering the product. Often these names or logos are trademarked to prevent competitors from using similar branding. A classic example of great branding is Heinz. The slogan ‘beanz meanz Heinz’ was used originally in 1967. It is considered to be one of the most successful advertising campaigns ever because of the way it influenced buyer behaviour. Huge numbers of adults still relate to the slogan 35 years on.
Brand Building takes time and effort, the company has to decide the brand’s values. For example, Mercedes cars branding is that their cars stand for high performance, safety and prestige.
How does a company convey the values? A consistent style, very specific, using specific fonts in adverts, training staff to present a specific image, a product that is both of good quality and can be relied upon. Hewlett Packard produces good quality computers. Once they had established their place in the market the company were