- Due Dec 4 by 11:59pm
- Points 100
- Submitting an external tool
This course has prepared you to support the work of a marketing manager. Drawing upon what you learned in previous projects, review and propose an enhanced Marketing Strategy for your selected company in a 2,000 to 2,500 word report, not including charts or tables. You will use the Ansoff Product/Market Matrix (Links to an external site.) as a tool to identify growth strategies in existing and new markets and products. It provides four different strategy options (see Marshall, pp. 44-45):
- Market Penetration
- Market Development
- Product Development
Using the company you work for (or another company you have access to), develop a Product/Market Matrix showing the strategies in each category.https://youtu.be/6NGehyOPF_k (Links to an external site.) Then describe the strategies and action steps needed to increase market share of existing products in existing markets, for selling existing products in new markets, offering new products in existing markets (sometimes called White Spaces), and developing new products for new markets (sometimes called Blue Oceans). Your Ansoff opportunity analysis of what is now and what could be achieved over a 3 year-unit (including research, development, product development, and product launch) should demonstrate your marketing fluency in terms of market segmentation, product development, branding, pricing, channels, digital media, ROMI, and advertising. Work with internal contacts to determine what actions are already underway and propose/justify future action steps.
This project will be scored using the MBA Project Grading Rubric.