MKT 100 Lecture Notes - Lecture 4: Eastern Canada, Stupa, Laundry Detergent

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Mary Foster

Document Summary

Framework designed by igor ansoff (russian american mathematician) Uses products in the market to describe business strategies. Producing more of its existing products will no longer incur large capital expenditures. There are new, attractive channels in the market (ex. Roger"s buying the shaw wireless business in western canada, Roger"s is a current supplier for eastern canada and has not even been an option for those out west, buying shaw expands his market. Roger"s releasing a cellphone targeted at seniors (changes to the marketing mix are price, product, promotion -> bigger buttons, pay-as- you-go bill, custom promotional program) Product development: new product in existing market -> purpose is to create new products to replace old, or substantially revise current products with new features/extensions (appear to be new: used when: A firm has strong research capabilities -> thus can continuously innovate existing products, The market is growing (customer tastes are rapidly changing)