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Strategic marketing management report (pdf)

   

Added on  2019-11-12

12 Pages2229 Words739 Views

Running Head: ReportContentsPart 1...........................................................................................................................................................3PLC (Product life cycle).............................................................................................................................3BCG Matrix.................................................................................................................................................4Marketing objectives...................................................................................................................................5Ansoff Matrix- 4 Strategies.........................................................................................................................6Part 2...........................................................................................................................................................8Environmental problem – BP Oil Spill........................................................................................................8Stakeholders Theory....................................................................................................................................8Recommendations.......................................................................................................................................9References.................................................................................................................................................112

Running Head: ReportPart 1PLC (Product life cycle)The product life cycle of the Company involves basically a four stages and these stages starts with the Introduction followed by the growth and maturity stage and ends with the decline stage. However, the below diagram shows the product life cycle of the JB Hi-Fi company, which is dealing with the electronic appliances and is famous for its consumer goods in Australia.Introduction Stage: The first stage of JB Hi-fi company is the introduction stage when the company established its digital tape players in the various countries. The company starts operating in the Australia and New Zealand [ CITATION PEl03 \l 1033 ].Growth stage: At this stage the company decided to launch more products like CD players and home computer results to increase in the sales around almost $8 billion with the passage of time. Maturity: JB Hi-Fi also continues to grow because of the merger and acquisition of the companies as the company decided to acquire Hill and Stewart chain of 11 electronics stores in 3

Running Head: Reportthe year 2006. The company earned the maximum profits or sales at this stage, i.e. NZ $17.5 billion. Decline: The decline stage comes because of the fall in the sales of the black and white televisions. BCG MatrixTalking about the BCG matrix, it stands for the Boston Consulting group and this is very helpful in demonstrating the different stages of the product strategy. There are four stages explained by the BcG matrix and these are the Stars, cash cows, Question and Dogs. All these four stages are showing the level of the market share and business growth. This matrix is useful to analyze the different aspects of the market share and the growth of the business in relation to the products of the JB Hi-Fi company. The JB Hi-Fi company is the leading Strategic business unit having a high market share and growth (Star cell) [ CITATION JBH16 \l 1033 ]. Cash Cows: The company JB Hi-Fi also has the highest market share in the electronics sector and the business of the electrical appliances spread across the 194 different locations. This strategic business unit represents a low growth rate and high market share and it is assumed as the mature market. The company needs to build some strategies to maintain its profitability. Stars: At this situation, both the elements such as market share and growth are high. For example, currently the company is a well established company and it can still grow in the process of making revenue of the company. The JB Hi-Fi company falls under this category because of its high growth and market share in Australia and New Zealand.4

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