Marketing Principles

This document discusses various concepts in marketing principles such as perception map, SWOT analysis, BCG Matrix, and Ansoff matrix. It provides insights into the strategies of market penetration, market development, product development, and diversification. The document also includes references for further reading.

MARKETING PRINCIPLES

TABLE OF CONTENTS
Perception map.................................................................................................................................1
SWOT analysis................................................................................................................................1
BCG Matrix.....................................................................................................................................2
Ansoff matrix...................................................................................................................................3
REFERENCES................................................................................................................................................5
Table 1Perception map....................................................................................................................1

Perception map
Table 1Perception map
Perceptual map is the technique that is used to show customers perception. It can be observed
that while purchasing cruise and boats some of the factors that clients always taken into account
are price, quality of service, durability and luxury. On basis of external research, it is identified
that there are two competitors of OzCo namely TT Line company and Madrigal shipping lines.
TT line company make available boats and cruise at affordable price and they are also durable
but not have good service quality and luxury in cruise (TT Line the bridge to Sweden., 2019). On
other hand, in case of Madrigal shipping it is observed that service quality is also good and along
with these ships are also durable in nature but price is high and cruise are not luxurious
(Madrigal shipping lines., 2019). OzCo innovate its operations and due to this reason, it offers
ships at low price which are durable and luxurious. Also good after sale service is given. Hence,
OzCo is far ahead of its rivals.
SWOT analysis
Strength
Firm major strength is innovativeness. On
basis of case analysis, it can be said that
innovativeness is in the company culture. Firm
is using fibreglass instead of traditional
Weakness
Firm is delivering good after sales service but
not engaged in the boat manufacturing as
varied employees of the firm intended
company to do so. Thus, is restricting firm
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Service quality
Durability
Luxury
Price
OzC
o
TT Line company
Madrigal
shipping lines

materials, such as wood and steel, for boat
making. Firm is also using advanced material
like Kevlar and carbon material to manufacture
cruise.
Other main strength for the firm is that it is
offering good after sales service to its
customers due to which it has loyal customers
base in the market.
growth rate in the highly competitive market.
Opportunity
Currently, firm just produce and sale its
product to the people. It can enter into tourism
industry and can offer people to visit varied
places on cruise. Varied packages can be
prepared for different locations like Antarctica
or any other island country etc so that more
options can be given to the people to visit
varied tourist places.
Threat
One of the major threat is that cruise tourism is
increasing at rapid pace and due to this reason,
more competitors can be seen in the market.
Hence, in such situation it become hard task to
maintain business growth at same rate. If firm
will not start production of boat building then
in that case rivals can snatch this opportunity
by providing better after sale service and
making available boats at cheaper rates.
BCG Matrix
2
Star ?
Cash cow Dog
Relative market share
Market growth
rate
High Low
Low
High
Cruise business
Boats and
maintenance
segment

In the BCG matrix there are four quadrants namely star, question marks, cash cow and dog. In
case market share is high and market growth rate is also high firm is assumed as in the star
category. Cruise or medium vessels segment of the firm is giving fabulous performance and
cover 50% of total company revenue and in market also giving very stiff competition and due to
this reason, this segment is placed in star category. Dog category refers to the situation where
firm have low market share and its growth rate is also quite low. Boats and maintenance services
comes in this category because they contribute 30% and 20% share in the total revenue and are
not having large market share. Moreover, their growth rate is also very low and due to this
reason both segments are placed in the dog quadrant.
Ansoff matrix
In current time period doing business become tough task as technology is improving at rapid
pace and more and more companies are adopting latest technology. In such kind of situation
sometimes business face a lot of problems. In order to identify strategic direction Ansoff matrix
is used which have four components. Each of these components are explained below. Market penetration: Market penetration is the one of the most important strategy that is
used by the firms that intend to remain with their existing product lines and does not
intend to add any new different product in their business (Hussain and et.al., 2013). This
strategy can be followed when market is about to go on saturation stage but firm is highly
competent in nature. In this strategy firm try to elevate sales of the product in the existing
market. Market development: In case in the industry any segment remains unexplored then in
that case firm follow market development strategy and under this firm try to serve its
product to the segment that remain unserved. Thus, it can be said that in this strategy firm
try to make effort where rivals never served the market. Product development: In this strategy firm offer new product to the existing market. This
is done when market is already at saturation stage and any need remain unfulfilled or can
be created. Such kind of strategy generate good amount of return for the investors (Reis-
Marques, Lages and Caminati, 2019).
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 Diversification: In this firm try to enter in to the new market with new product. This can
be done by the firm which have good technology infrastructure.
On basis of analysis it can be said that firm must follow market development strategy where
by using existing products firm enter into the new market. Company already have fleet of
medium size vessels and it can launch tour packages through which people can visit varied
islands. Thus, with same resources and capability firm can enter into the new market. Thus, it
can be said that market development strategy will be best for the firm because by following it
with resources that are currently available firm can easily enter into the market and diversify
its business. In current time period expanding a business require heavy investment on
infrastructure on technology and due to this reason, most of business firms try to expand their
business by making use of existing resources. Hence, in this strategy there is less risk and
investment.
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REFERENCES
Books and Journals
Hussain, S. and et.al., 2013. ANSOFF matrix, environment, and growth-an interactive
triangle. Management and Administrative Sciences Review. 2(2). pp.196-206.
Reis-Marques, C., Lages, L.F. and Caminati, V.V., 2019. VCW for Social Impact in a
Developing Country: Personal Development and Entrepreneurship in a Leadership
Academy. In Social Marketing in Action (pp. 141-162). Springer, Cham.
Online
Madrigal shipping lines., 2019. [Online]. Available through:<
https://www.revolvy.com/page/Madrigal-Shipping-Lines>.
TT Line the bridge to Sweden., 2019. [Online]. Available through:<
https://www.ttline.com/en/passengers/tt-line/company/>.
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