Answer To: Case Study, Part BThis task directly builds on AP2 as it requires you to use marketing theory to...
Asif answered on Oct 17 2022
ASHGROVE CHEESE MARKETING STRATEGY
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Executive summary
In this essay basically the marketing strategy of a product has been discussed with justification. Ashgrove Cheese has been selected as the product of the given topic in this essay. There are different kinds of theories used such as sales promotion theory, Ansoff matrix theory, cognitive placement theory as well as cost plus pricing method has been discussed in this essay. From this essay it can be said that marketing strategies help to determine the process to go related to the chosen product, competitors, promotion as well as pricing plans. On the other hand the brief concept of some theories those are used to develop the business strategy has been discussed. From this study in a single sentence it can be said that Ansoff matrix proposed that the strategy of product marketing was a connection or joint work of the different growth areas. The advantages of using these types of theories have been also discussed in this study. From this study it can be said that prices should increase in order if the demand for the products exceeds the supply as well as fall if the supply exceeds the demand for the chosen products. On the other hand, how the theory of cognitive placement is helpful to develop the marketing strategy has been discussed in this essay. From this essay it can be also understood that it can be said that the cost plus theory is related to the pricing strategy of the chosen products in microeconomics and defines that the price of the chosen products is determined by a relationship between the customer demand and producer supply at any provided point. In a single sentence, it can be said that the sale promotion theory is utilised for creating the source of the product information. On the other hand, different types of processes for the promotion of the chosen product have been analysed in this study.
Table of Contents
Introduction 4
Discussion 4
Marketing Strategy 4
Cost plus Pricing Theory 5
Cognitive Placement theory 6
Promotion Strategy 7
Conclusion 8
Reference list 9
Introduction
In this essay, Ashgrove Cheese has been chosen as the product and brief knowledge about the marketing concept would be discussed. The strategies of the marketing concept of Ashgrove Cheese are for entering the border Australian market day by day with better quality cheese that is bought at an inexpensive price. On the other hand, different strategies related to pricing, placement, promotion as well as product strategy would be used in this study. Therefore, the targeting market value proposition will be easily achievable from this study. At present, the market of some cheese products is not manufactured by the producers in food quality. Therefore, there is a chance for Ashgrove Cheese to bank on its consumers and provide a better quality cheese at the customer’s reasonable cost.
Discussion
Marketing Strategy
In this section, the different types of marketing strategy which are essential to growing the business and accessing the target customers easily. These types of marketing strategies are product strategy, pricing strategy, promotion strategy as well as promotion strategy of the chosen products. The marketing strategy is extremely essential for providing an overview of the different marketing elements that come together to create a type of successful business for Ashgrove cheese in the competitive markets (Katsikeas et al., 2019). Therefore, it is clear to understand that marketing strategies help to determine the process to go related to the chosen product, competitors, promotion as well as pricing plans.
In general there are different types of product positioning theories that are considered for developing the business such as differentiation, comparative as well as segmentation. Through these types of strategies, a company can support their product such as Ashgrove Cheese stand out by achieving the right audience who are targeted with a more significant message. On the other hand, there are different types of elements of the product strategy to develop the business (Amin and Priansah, 2019). Every strategy of a product consists of different parts such as goals, vision as well as initiatives. Visions define the market landscapes that the consumers are, what they require and the process of planning for delivering the unique offering. On the other hand, goals are quantifiable as well as defined as achieving things in the next 18 months, 18 months or quarters. Therefore, these are the reasons to develop the marketing strategy Ansoff matrix theory is used for different benefits. Ansoff matrix proposed that the strategy of product marketing was a connection or joint work of the different growth areas. These types of growth areas are market development, penetration of the market, product development as well as diversification (Netseva-Porcheva et al., 2020). Therefore, it can be said that...