Marketing Principles for Ventura Boats: SWOT Analysis and Ansoff's Matrix

This study analyzes the threats and opportunities of Ventura Boats through SWOT analysis and Ansoff's Matrix. It provides strategic alternatives for business improvement and expansion in global market.

Running head: MARKETING PRINCIPLES
Topic: Marketing Principles
Name of the Student:
Name of the University:
Author’s Note:

1MARKETING PRINCIPLES
Table of Contents
1.0 Introduction................................................................................................................................2
2.0 SWOT Analysis.........................................................................................................................2
3.0 Threats and Opportunities Analysis...........................................................................................4
3.1 Analysis of Threats................................................................................................................4
3.2 Analysis of Opportunities......................................................................................................4
4.0 Ansoff’s Matrix.........................................................................................................................5
4.1 Market Penetration.................................................................................................................5
4.2 Market Development.............................................................................................................5
4.3 Product Development............................................................................................................5
4.4 Diversification.......................................................................................................................5
5.0 Recommendations......................................................................................................................6
5.1 Global Expansion with both Existing and Improved Boats...................................................6
5.2 Adoption of Advanced Technology.......................................................................................6
5.3 New and customized Boat Models in Australian Market......................................................7
6.0 Conclusion.................................................................................................................................7
Reference List..................................................................................................................................8

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1.0 Introduction
Marketing principles are the set of activities designed for creating, developing and
delivering product offerings to the customers. Ventura Boats is a popular boat building company
in Australia offering retro designed and luxurious boats. The study will analyze the threats and
opportunities of organization after performing its SWOT analysis. Apart from that, the study will
also assess the Ansoff matrix in respect to this organization. Furthermore, based on the Ansoff
matrix and threats and opportunities, the study will also provide proper strategic alternatives to
the organization for its business improvement.
2.0 SWOT Analysis
SWOT ANALYSIS OF VENTURA BOATS
STRENGTH  Retro design and high-quality boats of Ventura Boats are highly
attractive to the customers
 Strong reserve of cash has made the strength of the organization
 Small sized and luxurious boats define the status and comfort of the
consumers
 Highly skills and knowledgeable employees has built the success level
of the organization (Ventura-boats.com 2018)
WEAKNESS  Lack of experience in overseas market is affecting the overall profit
level of the organization
 Traditional methods and backdated technologies is hindering business
advancement
 Lack of new models is reducing the attraction of the customers

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 Low morale and high turnover of the best employees are hampering
the business success (Koudijs 2016)
OPPORTUNITIES  Ventura Boats has opportunity to expand in overseas market
 Adoption of advanced technology can invent new and improved
models of boats
 Fewer restrictions of overseas government on traditional boats can
help Ventura Boats to maintain its business sustainability
 Growing economies of emerging nations and passion of wealthy
customers for luxurious boats can increase the business demands of
Ventura Boats
THREATS  Tough competition from the competitors is hampering the business
profit of Ventura Boats
 Shrinking Australian domestic market and substitutes of boats is
hampering the market share of the organization
 Restriction of Australian government on outdated technologies of
Ventura Boats
 Technologically advanced organizations can buy out the small
companies like Ventura Boats
Table 1: SWOT Analysis of Ventura Boats
(Source: Created by Author)

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3.0 Threats and Opportunities Analysis
3.1 Analysis of Threats
Ventura Boats is facing tough competition from the technologically advanced boat
building companies. Such larger and more technologically advanced boat building companies are
looking for buying out the small companies having backed technologies like Ventura Boats.
Apart from that, Ventura Boats is also being affected by the shrinking Australian domestic
market with several substitutes of boats. Such substitutes are actually hampering the market
share of the organization. Furthermore, Australian government has imposed several restrictions
on the outdated technologies used in the boats of Ventura Boats. Hence, the organization is also
facing the threats of business liquidation.
3.2 Analysis of Opportunities
Ventura Boats has huge opportunities to expand in overseas market for business
expansion. The organization has adequate brand popularity in the boat building market of
Australia. Such strong brand image can also help the organization in building global image.
Apart from that, the organization has strong reserve of cash, which can help them in affording
the expense of global expansion. Overseas governments have fewer restrictions of the traditional
technologies rather than Australian government. Hence, such fewer restrictions can add to the
business sustainability of Ventura Boats. Growing economies and wealthy consumers of
emerging countries can have huge passion of luxurious boats, which can add to the global
business success of this organization (Ghosh, Ostry and Chamon 2016). Apart from that, the
organization has huge opportunity to adopt advanced technologies in building new technically
advanced boats. It can help the organization to compete with the large sized and technically
advanced boat building companies successfully.

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4.0 Ansoff’s Matrix
4.1 Market Penetration
In this strategy, an organization seeks to achieve market growth in its existing market
with its existing products. Ventura Boats can try to enhance its market share in Australian
domestic market through offering its traditional boats.
4.2 Market Development
In this strategy, an organization seeks business growth through targeting its existing
products in the new market (Gurcaylilar-yenidogan, T.U.G.B.A. and Aksoy 2018). Likewise,
Ventura Boats can offer its traditional and retro designed boats in global markets. Moreover, the
overseas governments have less restriction on the traditional technologies, which can improve
the global business condition of the organization.
4.3 Product Development
In this strategy, an organization seeks business growth through developing new products
targeted to its existing market. Likewise, Ventura Boats can develop new technologically
advanced boats and other types of water rides for offering in Australian domestic markets.
4.4 Diversification
In this strategy, an organization seeks its business growth through offering new products
in new market. In this case, Ventura Boats can offer new technologically advanced boats and
other types of water rides in the global market. The new product line will add to the profit level
of the organization and compensate the risk of existing traditional boat business.

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5.0 Recommendations
From the above analysis of Ansoff’s Matrix and threats and opportunities of Ventura
Boats, it can be said that the organization should immediately expand in global market with
some improvement in its boats. Moreover, the organization is suggested with following
recommendations for operating successful domestic as well as global business.
5.1 Global Expansion with both Existing and Improved Boats
International or global expansion naturally provides opportunities for faster business
growth. Global expansion also helps organizations in adjusting with the product demand
fluctuation in the domestic market (Alden and Nariswari 2017). Likewise, global expansion will
facilitate Ventura Boats in adjusting with the risk of traditional boat business in Australia.
Moreover, overseas governments have fewer restrictions on traditional technologies than
Australian Government (Finance.gov.au 2018). Hence, Ventura Boats can get more opportunities
for sustainable business even for traditional boat business in Global market. However, traditional
technologies can be associated with several issues in global market in terms legislation. Hence,
besides traditional and retro designed boats, the organization can also build technologically
advanced boats for more sustainable business.
5.2 Adoption of Advanced Technology
Incorporation of new and advanced technology in business facilitates organizations to
stay in front of its customers. Advanced technology provides new and exciting ways to the
customers for using the products of an organization, which can lead to increased customer
satisfaction and business improvement (Foxall 2015). On the other hand, traditional and outdated
technologies are more likely to be obsolete, which can hamper the business sustainability of an
organization. Likewise, some of traditional technologies of Ventura Boats have been considered

7MARKETING PRINCIPLES
as outdated and Australian government is about to declare these technologies as illegal. Hence,
Ventura Boats should immediately adopt new and advanced technologies for building boats. It
will help the organization to keep itself away from all kinds of legal constraints.
5.3 New and customized Boat Models in Australian Market
Customization of products always facilitates in providing unique value to the customers.
Such unique value helps in fostering competitive advantage over the rival organizations
(Businesswire 2014). Likewise, Ventura Boats can build new and customized boat models will
help the organization in beating the substitute products and enhance customer satisfaction.
6.0 Conclusion
While concluding the study, it can be said that Ventura Boats is highly successful for its
retro designed and high-quality boats. However, the traditional and outdated technology of the
organization is going to be illegal as per the instruction of Australian government. Furthermore,
the organization also has lack of overseas business expansion. Hence, the organization should
immediately expand in global market for getting faster business growth.

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Reference List
Alden, D.L. and Nariswari, A., 2017. Brand Positioning Strategies During Global Expansion:
Managerial Perspectives from Emerging Market Firms. In The Customer is NOT Always Right?
Marketing Orientationsin a Dynamic Business World(pp. 527-530). Springer, Cham.
Businesswire, 2014. Is There a Need for PPE Product Differentiation for Developing
Economies? PR Businesswire, pp.PR Businesswire, Oct 6, 2014.
Finance.gov.au., 2018. Policy, Guides & Procurement | Department of Finance. [online]
Finance.gov.au. Available at: https://www.finance.gov.au/policy-guides-procurement/data-
centres/data-centre-strategy/ [Accessed 11 Feb. 2018].
Foxall, G., 2015. Corporate innovation. 2nd ed. London: Routledge Library Editions: Marketing.
Ghosh, A.R., Ostry, J.D. and Chamon, M., 2016. Two targets, two instruments: monetary and
exchange rate policies in emerging market economies. Journal of International Money and
Finance, 60, pp.172-196.
Gurcaylilar-yenidogan, T.U.G.B.A. and Aksoy, S., 2018. Applying Ansoff’s Growth Strategy
Matrix to Innovation Classification. International Journal of Innovation Management,
p.1850039.
Koudijs, P., 2016. The boats that did not sail: Asset price volatility in a natural experiment. The
Journal of Finance, 71(3), pp.1185-1226.
Ventura-boats.com., 2018. Home - Ventura. [online] Ventura. Available at: https://ventura-
boats.com/ [Accessed 11 Feb. 2018].