Ansoff Matrix and BCG Analysis

This assignment requires analyzing and applying the Ansoff Matrix and BCG (Boston Consulting Group) analysis in marketing strategy development. It involves understanding the principles behind these tools, such as identifying market growth rates and competitive positions. Students are expected to demonstrate their knowledge of how these matrices can be used to inform business decisions and create effective marketing strategies. The assignment includes references to relevant literature and online resources for further learning.

Marketing Plan

Table of Contents
INTRODUCTION...........................................................................................................................1
MARKETING AUDIT....................................................................................................................1
OBJECTIVES .................................................................................................................................5
STRATEGY.....................................................................................................................................6
RESOURCES AND CONTROLS...................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Market is a place where commodity can be exchange between one another. In order to get
maximum advantages from their product and services company need to conduct a well organise
plan (Cook, 2011). It is necessary for taking competitive advantages over other company;s which
is already operating in same line. This project covers plenty of information about company
mission, vision and objectives. Marketing audit is also done to determine various impacts which
are available with services and products. Various strategies and control measure are also
discussed under this project plan.
MARKETING AUDIT
Marketing Audit: It is a systematic, independent and periodic evaluation of a company's
or business units. The auditing is done in order to determine problem areas in relation to market
penetration. It is done independently by marketing departments itself. The concern person
analyse the market environment, strategies and company's objectives to better see whether the
company may be falls down (Buhalis and Crotts, 2013).
Features of marketing audit are as follows:
 Marketing audit is a comprehensive analysis of all activities which is associated with
marketing.
 It is step by step procedures. The main part of this is conducted by a single person that
does not belongs to TUI group. It must be from outside.
 It is a periodic activities and need to be conducted at regular point of time.
Marketing audit is essential categories into two parts:
Internal marketing audit: It is related with inside activity which is perform within the
company. It is done to increase business effectiveness (Läderach and et. al., 2011). It will help to
generate maximum revenue, profitability and any indication of corporate mission associated
with the marketing of any product and services. It consists of various aspects such as: Marketing effectiveness: under this, certain valuable measure are need to be considered
such as sales, retention, market share and brand enhancement and loyalty of customers. Customer services: It can assess for every different product line which delivered through
using a perfect network. It is the ways by which component of marketing mix are used to
review by the auditors.
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External marketing Audit: This studies about the external stimuli which affects the
business strategy of the Thomas Cook. The marketing plan developed by the business firm is
largely affected by the action and interference of external attributes to the organisation like
government, general public, suppliers, customers, competitors etc.
Supplier: The supplier is the person who largely affects the availability of raw material in
their operations of company and also affects the marketing plan as well. As the slower process of
production will affects the marketing strategies as well (Zwick and Cayla, 2011). So, the
organisation should act responsibly towards the supplier requirement in marketplace in order to
develop a good relation with them.
Customers: The marketing plan followed by the organisation should comply with the
customer behaviour and their needs in order to provide them satisfactory services. This will
increase their perception and also helps in providing better experience with the brand products.
This will increase the profitability of the firm as well as contribute in increasing the satisfaction
level of the customers.
Competitors: Competitors strategies of the Thomas cook largely affects the marketing
plan of organisation. As the firm has to react as per the competitors tactical plans to counter
attack with its rivalries competent level and competitive advantage in marketplace. So, Thomas
Cook have to act more responsibly towards the action of its rivalry like TUI group etc.
The marketing audit is followed up thorough developing various stops in order to
evaluate the market scenario responsibly. The Thomas cook is carrying out marketing audit
through following steps which are discussed below (Mayer, Ryley and Gillingwater, 2012).
Stage one: The Market
The market is the place where exchange of goods and benefits takes place between the
people and the customers. This provides a platform to corporate organisation to carry out various
business activities to make significant profit. The trends of market are dynamics in nature which
keep on changing as the time passes. As per the demographic condition of market the trends also
changes. The trends of the market are influenced by the choices and preferences of the consumer
and changing beliefs of the society. So, the various demographic factors like age, sex, behaviour.
Origin all aspects largely contribute in dynamic trends of the marketplace. So, the organisation
should be actively involved in accessing these markets and reacting as per the changing needs of
marketplace and consumers as well.
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Stage two: Market Positioning:
The marketing position of an business firm can be identified through accessing its market
growth and shares in the different stages of product development. So, in order to develop a good
market position the Thomas cook is following different strategic plan in order to root up in the
existing marketplace of travel and tourism sector (Bonilla Priego, Najera and Font, 2011).
BCG Matrix: This is introduced by the Boston Consulting group. This respective matrix
develop an relationship between market growth rate to with that of market share. The
organisation should act responsibly towards the growth in shares of market as well as when
market grows for the firm in order to generate higher revenues. The BCG matrix is defined as
follows:
Star: This is the most profitable position of the market place where market share is
maximum and the market growth is also showing high pace scale. This will be an beneficial
position for Thomas cook to expand the business in other markets too.
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Illustration 1: BCG matrix, 2017
Source 1: Hitesh Bhasin. 2017. BCG Matrix or BCG analysisUsing.

Question mark: These are the products which are having higher market growth but lower
capability to capture higher maker shares. So, the organisation can go for the divestment
strategies to market their products in new direction to generate some revenue from this specific
product line.
Dogs: This is the stage where the product is facing problem in its development. This is
having lower market shares as well s growth rate (Hitesh Bhasin. 2017. BCG Matrix or BCG
analysis). So. Thomas cook should shut down these product line of services to delver in
marketplace to control over extra expenses of business firm.
Cash Cow: This is the backbone to the profitability of the business firm. These product
line are the helpful in developing good market position by capturing large numbers of market
shares. But these are having lower market growth in the marketplace. The company can develop
various promotional campaign in order to grow their markets.
Stage three: Macro Environment (External):
Pest analysis helps in carrying out macro environmental audit which is having great role
in regulating the market strategies of the firm. The Thomas cook should act responsibly in
response to the external stimuli and affecting factor in order to maintain continuous growth of
firm in marketplace. Some of the influencing attributes of the external macro environment are
discussed below.
Political: The instability in political environment negatively affects the growth of t and
tourism industry as well as affects the growth of business too. Like for an example the terrorist
attract may develop threat in visitors mind and reduces the traveller activities in specific location.
So, before providing any packages to the client, Thomas cook should critically evaluates the
political stability of the nation.
Economical: The economical factors like exchange rates, inflation rate and the
employment rate and available funds to the nation all largely affects the profitability margin of
the firm (Walton, 2010). So, the Thomas cook should invest in developed countries to generate
higher level of profitability which helps in reducing cost and making higher profit margins.
Social: The sociological factors like demographic preferences, changing needs and
choices of society people largely affects the operation of the business firm and Thomas cook
have to react ethically towards these changing preferences and choice in the society to increase
profit margin of firm.
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Legal: The legal framework followed by different countries is having different structure,
the nations are introducing various legislation as per their requirements to legalise the practices
of country people (Porter, Hartman and Johnson, 2011). So, before targeting any of the
international markets Thomas cook should have appropriate knowledge about the country laws
and legislation which are followed in to work in compliance with legal framework of nation to
avoid further legal complication.
Stage four: Micro Environment (Internal):
SWOT analysis helps in evaluating the internal strength of the organisation with that of
its compatibility with future growth opportunities. This also describes about the weaknesses of
the business firm which can add on the threat to the Thomas cook growth in marketplace. The
SWOT analyse of the sited firm is carried out as follows:
Strength Weaknesses
The Thomas cook is largely travel agency of
UK and Europe with having large markets. The
company is having its own resorts, flights and
transport vehicle to deliver quickly services
globally.
The sited company is refined to pay any
compensation to its clients as per the EU
statuary. Te company is having limited brand
presence in the marketplace.
Opportunities Threat
The company can develop its market shares to
global markets also which helps in generating
higher profit. The firm can digitalise their
operations in order to deliver quick services to
client.
The company is having threat from increased
liabilities to unpaid compensation. The firm is
also facing threat from uncertainties in the
flights.
OBJECTIVES
The organisation should react responsibly while defining the gaols and objectives of
business firm. As this will provide right direction to the functions of the firm (Hoffman and
Novak, 2012). The Thomas cook is developing objectives to direct their internal operations as
per the requirement fop defined targets and aiming to capture more than 5 global markets in next
5 years.
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SMART objectives should be followed up by the business firm in order to act responsibly
towards the available growth opportunities in the marketplace. The Thomas Cook is developing
Smart targets in order to react as per the requirements of external market to develop positive
results from marketing plans which are defined as follows:
The goals of the firm should be Specific and Measurable in the quantity so that the results
can be quantified and evaluated effectively. These defined targets should be Attainable in nature
and should not be imaginary. These goals should be Relevant as per the company aims and
mission statements. The developed objectives should be Time based and should be achieved
within the limits of defined time (Gerpott, Thomas and Weichert, 2014).
The objectives of the firm should be as per the requirement of developing of new product
and service line and also defined in relate with the increasing sales volumes and defining
profitability target for the Thomas cook company in order to act responsibly in external in
marketplace. Thomas cook is focusing on developing various strategic goals for the firm in order
to act for increasing satisfaction level of the customers by providing quality services and good
provide with the business firm
STRATEGY
Ansoff's Matrix: This is developed by the business in order to describe the effective
growth strategies which can be followed by the organisation in order expands the business more
responsibly and tactically. The Thomas cook is following up various strategies defined in Ansoff
matrix to increase the expansion rate of firm in external marketplace are as follows:
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Market penetration- Following this tactical plan the business firm is functioning to
increase the profitability of the firm through penetrating the marketplace more responsibly. In
this particular strategic plan the Thomas cook is increasing market shares through providing
more promotional schemes to existing customers in current marketplace.
Product development- While this is the strategic plan followed by Tomas cook company
in order to develop in new product in the existing marketplace in order to deliver better quality
services to the existing customers as per their changing needs and requirements.
Market development- The company is following up this tactics in order to expand the
business of Thomas cook in newer market through introducing existing products in the new
marketplace to increase the market shares of the firm (Using The Ansoff Matrix to Develop
Marketing Strategy. 2017).
Diversification- While this is the strategy to person the business in newer markets
through accessing specific needs of customer through providing a diversified and unique
products to the customers. This will helps in increasing the brand loyalty as well as development
of good brand position of Thomas cook in marketplace.
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Illustration 2: Ansoff matrix, 2017
Source 2: The Ansoff Matrix to Develop Marketing Strategy. 2017

The segmentation is the process through which the Thomas cook is categorising the
groups of customers on the basis of their age, sex, choices and preferences in relation to their
expectation with the travelling needs and arrangements. While targeting is selecting a specific
segment in order to evaluate their products and services to the target group of customers to
accomplish their specific needs. While positioning can be defined as developing positive
perception in individual mindset with relation to the brand image and its services. Positioning
will helps increasing the customer loyalty with the company and helps in branding their
organisation services in marketplace to increase the numbers of local customers to the Thomas
cook business.
Marketing mix is developed by the business firm in order to develop competitive
advantage in the marketplace through marketing the internal strength of the organisation. The
Thomas cook is marketing its elements responsibly in order to increase the profitability of firm
which is discussed as follows:
Product/Service and services provided by the Thomas cook should be as useful as to
accomplish all needs of its customers. While Pricing strategies of the company should be kept in
affordable range of travellers so that this an add on in the sales of firm. Place defines the
distribution are of the services and the products of company to increase the profitability of the
firm in many folds (Czinkota and Ronkainen, 2013). While the Thomas cook should be
responsible in developing Promotional plans like Advertising, Packaging, Personal Selling,
Direct Marketing in order to attract large numbers of customers towards product and services
given by the business firm.
While as working in service industry the Thomas cook should emphasise on the Services
Marketing mix in order to delver quality services to the customers. The People, Processes and
Physical Evidence all contribute in developing a trustworthy relation and good motivation
relationship with the customers of the company to increase their loyalty towards brand.
RESOURCES AND CONTROLS
The company should act responsibly towards allocation of resources to they workforce
and to the customers and keeping control over activities in order to act responsibly in the
business environment. Some of the aspects in resource and controlling followed by Thomas cook
is as follows:
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Resources Requirements: The organisation should be responsible and contribute in
various requirement of the human resources and also the required resource in the working
environment to executive the marketing plan successfully.
Measures: The organisation should measure all the changes brought by the
implementation of the business plans and the marketing strategies and its contribution in growth
of firm in order to evaluate the effectiveness of tactics.
Key Milestones: While Thomas cook should be responsive in defining the key millstones
which are to be achieved by business firm while delivering services to clients like increasing
sales volume, enhancing customer satisfaction level and expanding business in new 5 global
markets successfully.
CONCLUSION
From the above report this can be continued that market plan largely contribute in
increasing profitability of the firm. This services the tactics which have to be followed in order
to achieve all the defined smart targets of organisation. Marketing strategies develop an tactical
plan to expand business in global markets profitably and more responsibly.
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REFERENCES
Books and Journals
Bonilla Priego, M. J., Najera, J. J and Font, X., 2011. Environmental management decision-
making in certified hotels. Journal of Sustainable Tourism. 19(3). pp.361-381.
Buhalis, D and Crotts, J., 2013. Global alliances in tourism and hospitality management.
Routledge.
Cook, D. T., 2011. Commercial epistemologies of childhood:‘Fun’and the leveraging of
children’s subjectivities and desires. Inside marketing: Practices, ideologies, devices.
pp.257-268.
Czinkota, M. R and Ronkainen, I. A., 2013. International marketing. Cengage Learning.
Gerpott, T. J., Thomas, S and Weichert, M., 2014. Usage of established and novel mobile
communication services: Substitutional, independent or complementary?. Information
Systems Frontiers. 16(3). pp.491-507.
Hoffman, D. L and Novak, T. P., 2012. Why do people use social media? Empirical findings and
a new theoretical framework for social media goal pursuit.
Läderach, P and et. al., 2011. Systematic agronomic farm management for improved coffee
quality. Field Crops Research. 120(3). pp.321-329.
Mayer, R., Ryley, T and Gillingwater, D., 2012. Passenger perceptions of the green image
associated with airlines. Journal of Transport Geography. 22. pp.179-186.
Porter, T., Hartman, K and Johnson, J. S., 2011. Books and balls: Antecedents and outcomes of
college identification. Research in Higher Education Journal. 13. p.1.
Walton, J. K., 2010. Thomas Cook: image and reality. Giants of tourism, pp.81-92.
Zwick, D and Cayla, J. eds., 2011. Inside marketing: Practices, ideologies, devices. Oxford
University Press.
Online
Hitesh Bhasin. 2017. BCG Matrix or BCG analysis. [Online]. Available through:
<https://www.marketing91.com/bcg-matrix/>. [Accessed on 22nd November 2017].
Using The Ansoff Matrix to Develop Marketing Strategy. 2017. [Online]. Available through:
<https://blog.oxfordcollegeofmarketing.com/2016/08/01/using-ansoff-matrix-develop-
marketing-strategy/>. [Accessed on 22nd November 2017].
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