By setting aims and objectives, companies give themselves a sense of purpose and direction. This provides a framework around which to create their plans. With an overall plan in place, a company can set particular targets and monitor its progress towards reaching them. Targets can vary from a sales target and/or a profits target.
I am going to discuss in this assignment how two organisations use marketing techniques to market their products. The two Companies I will look at is TESCO and ASDA, both in the supermarket chain they serve over 70 million customers daily.
Ansoff’s Product/Market Matrix
The Ansoff Matrix, designed by Igor Ansoff, classifies and explains different growth strategies for a company. This matrix