Strategic Marketing Evaluation

Strategic Marketing
Evaluation

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
ANSOFF matrix..........................................................................................................................3
STP Approach.............................................................................................................................5
Marketing mix for building your dream venture.........................................................................7
Challenges faced by the BYD energy in future..........................................................................8
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Strategic marketing is the method of differentiates itself from its rivals by focusing on
their strength with the motive of providing better services to their potential customer. It is the
process of building good brand image in the marketplace (Luca, Hibbert and McDonald, 2016).
BYD (Build Your Dream) is the high-tech company that deals in manufacturing safe and
efficient storage solution for renewable energy. The aim of this company is to provide zero-
emission energy solution and their products include Battery-box low ad high voltage for
commercial purposes. The purpose is to provide non-toxic energy with zero pollution and
working on the core vale of excellence, pragmatism, innovation and passion. This report will
cover the ANSOFF matrix to analyse the competitive advantage, STP model to position their
product and explain the marketing mix of build your dream. Furthermore, It also explain the
innovation strategies for their business and also analyse the International marketing strategies for
BYD energy.
TASK 1
ANSOFF matrix
It is the framework of analysing and planing the various business strategies for growth
with the help of their four pillars. It is a product market expansion Grid which shows four
strategies that can help in growth of their business and also analyse the various risk that is
associated with the strategies (Li and et. al., 2017). This matrix is developed by H. Igor Ansoff
IN 1957. It help many marketers and executives to understand the risk and their business in order
to complete a certain task. It is the business strategies that help in knowing the various aspect of
the business that includes market penetration, Product development, market development and
diversification. In context of Build your dream energy, It will explain the detailed strategies
of ANSOFF matrix that will help in analysing the various strategies that is associated with the
risk in the market. Various factors that is associated with the risk are as follows:
Market penetration- These are the factors which focuses on increasing their sale in the
existing product in the existing market. It includes production in large scale with the motive of
earning higher revenue. When the firm is aim with the same product, there may be chance of
high growth due to increase number of their loyal customer. Organisation can decrease the price
of existing product to attract the large group of customer and generate higher revenue in the large

market. Firm can improve their promotion and distribution channel with the help of introducing
advertisement on social media platform, It will help in covering large target groups. Firm can
acquire their competitors in the same marketplace. BYD energy can decrease the price of their
product to attract the large group of customer and can use digital marketing to advertise their
product.
Product development- This is the factors in which firm introduce the new product for
their potential customers in the existing market. This include research and development for
attracting the large group and for that, company have to study the current market and do the
required innovation that can meet the need and demand of the potential customers. It is the risky
aspect which the firm can do in order to increase the product range in the existing market and
help in generating higher revenue and profitability (Lawton, 2017). Company can merge their
resources to develop a new product in order to increase their market share and the product will
meet the need of the current marketplace. Firm may form the strategic partnership in order to
gain the advantage with other firms with help of their distribution channels. BYD energy can
launch the new product with the help of proper research and development in their production. It
also focuses on developing new opportunities with the consideration of generating higher
profitability.
Market Development- In this factor, the firm will enter in tot new marketplace with
their existing product and expanding in to new geographic regions, customers segments. It can
easy when the firm is having the proprietary technology that can help into new market. They
have to analyse the potential customer in to target market so that they can contribute in
future(Kannan, 2018). Organisation mus do the right approach in understanding the consumer
behaviour that does not change I the new market so It will be helpful for analysing the various
aspect of the business. Organisation can cater their product into new market segment to expand
their market size that leads to generate higher profitability. Firm can enter in to new domestic
market or expand regionally. They can expand their business in to international market to a
lading company in the world. BYD energy can generate high product by expanding their
business in domestic and international market and increase their market share.
Diversification- When the firm is entering into new market and launching new products.
Although, It is the risky strategy that includes both new market and product development
required attention in order retain in the marketplace. When the firm is introducing new product,