M300 1nd Edition Lecture 3 Outline of Current Lecture I Growth Share Matrix II Growth Share Matrix Exercise III Growth Share Matrix and PLC IV Designing the Business Portfolio V Marketing Strategy VI Marketing Strategy applied to Growth Share Matrix VII Planning and Implementing the Marketing Strategy Current Lecture I Growth Share Matrix a Remember Growth Share Matrix shows you on a map how your product is doing b There can be Question Marks new products unsure of how will react Stars young maturing Strong growing sales Cash Cows mature products strong sales Dogs decline II Growth Share Matrix Examples a Question Mark 4kTV b Star Energy Efficient Cars c Cash Cow Smartphones d Dog Mp3 players GPS systems III Growth Share Matrix and PLC a Star growth b Question Mark don t know c Cash Cow mature d Dog decline IV Designing the Business Portfolio a It is better to have a portfolio that is balanced with products business in a variety of the Growth Share Matrix quadrants b The bigger the circle in a GSM the bigger the business V Marketing Strategy a Build strategy i Invest These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute b Hold Strategy i Maintain current position c Harvest Strategy i Milk reduce investment d Divest Strategy i Sell or close down VI Marketing Strategy applied to Growth Share Matrix a Question Mark i Build b Stars i Hold c Cash Cows i Harvest d Dogs i Divest VII Planning and Implementing Marketing Strategy a Identify the target customer segment through segmentation i Could be segmented through demographics or psychographics ii Demographics geography age gender etc iii Psychographics based on what people want out of life More experiential b Target certain segments of customers i 18 49 year olds are target demographic for advertisers c Position the product or positioning i Positioning is about creating perceptions of the product among the target segment ii Tell the customer why they should buy this product vs another product iii How Use promotion to communicate a positioning that is clear concise distinctive and desirable perception of product iv Example Wal Mart took over the position as a low design low price market There was no place for Target anymore Target had to reposition as a cheap chic market d Apply 4 P s for sales and profit i 1 Product ii 2 Promotion iii 3 Price iv 4 Place
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