Bringing an innovative product to market: Assure®

Slides:

Advertisements

Similar presentations

The Ansoff Matrix Igor Ansoff.

Advertisements

Ansoff Matrix Maxwell Marchand.

Starter task: What does ‘innovation’ and ‘diversification’ mean?

Global Edition Chapter 1 Marketing: Creating and Capturing Customer Value Copyright ©2014 by Pearson Education.

Chapter 2 Copyright ©2010 Cengage Learning Inc. All rights reserved 1 MKTG 2 CHAPTER Strategic Planning for Competitive Advantage.

Seminar Pemasaran Seminar Pemasaran Konsep Marketing.

Strategic Planning and the Marketing Process

New Product Development and Product Life-Cycle Strategies

MANAGEMENT OF MARKETING PRICING STRATEGIES. LEARNING INTENTIONS/SUCCESS CRITERIA LEARNING INTENTIONS: I understand the role of PRICING as part of the.

Chapter 1 Marketing: Creating and Capturing Customer Value

Marketing Vocabulary. Market Advertise or promote an item or service.

1 Marketing “Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create.

© Mcgraw-Hill Companies, 2008 Farm Management Chapter 1 Farm Management in the Twenty-First Century.

1 Chapter 3 Advertising and the Marketing Process.

2-1 CHAPTER DEVELOPING MARKETING STRATEGIES AND A MARKETING PLAN 2.

What does this image represent? © APT Initiatives Limited, 2008.

MGT-519 STRATEGIC MARKETING AAMER SIDDIQI 1. LECTURE 9 2.

Chapter 1 Marketing: Creating and Capturing Customer Value

1 Copyright ©2006 by South-Western, a division of Thomson Learning. All rights reserved Chapter 2 Prepared by Deborah Baker Texas Christian University.

A marketing plan is a document that lists activities aimed at achieving particular marketing outcomes in relation to the product. A marketing plan is a.

SMM 3rd Session.

Marketing 11 Introduction Part 2. Overview Key Questions (what you need to know) Explain the importance of understanding customers and the marketplace.

Resources Ansoff matrix for Nokia HW Ansoff matrix worksheet.

1.1.1 The market - syllabus Candidates should be able to: Define mass & niche markets; calculate market size & market share; assess the value of brands.

Marketing Mini Lesson for IA.

Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Product Strategies Chapter 11.

IBM Food Traceability Marketing Plan

To what extent does a recession present a growth opportunity for retailers who are prepared to invest in new products and locations? Exam-style question.

2-1 Visit UMT online at © UMT 2004 MKT100Version: PRINCIPLES OF MARKETING University of Management and Technology 1901 N. Fort.

Section Objectives Identify the purpose of the marketing plan.

Chapter 1 Marketing: Creating and Capturing Customer Value Copyright ©2014 by Pearson Education, Inc. All rights reserved.

MaxClean Outline  Company Profile  SWOT Analysis  Corporate Marketing Strategy  Business Marketing Strategy  Strategic Marketing  Segmentation.

Marketing “I couldn’t repair your brakes, so I made your horn louder”

Investigating Marketing Strategies Used for Growth Unit 3 Introduction to Marketing.

3.5.4 T HE IMPACT OF GOVERNMENT AND THE EU T HE GOVERNMENT AND THE EU How many of the member states can you name?

Product Service Management Function. Nature and scope of function: Different businesses trying to meet the needs, wants, and desires or consumers.

Marketing Strategies – How to choose?

Product Line A product line is a portfolio of products and services offered by a firm. Chapter 7.1.

Ansoff’s Matrix By Brad, Jess & Jami. WHAT IS IT? It was created by A Russian American called Igor Ansoff. The Ansoff Growth matrix is a marketing planning.

Market Planning and Strategy. Market Research Plan SWOT analysis Marketing budget Business Objectives Marketing strategies Market Research.

Marketing and product strategies for growth

Marketing : Chapter one Reviewing Objectives and Key Terms Dr. Mazen Rohmi.

STRATEGY CHOICE MICHAEL PORTER ’s competitive strategies.

Selecting Marketing Strategies. - Learning Outcomes To be able to describe a range of marketing strategies Explain the meaning and significance of Ansoff’s.

INTRODUCTION: The objective of this lesson is to acquaint learners with the roles of the ‘STAKEHOLDERS’ in the business environment. The typical high street.

Chapter 17 (pgs.445FL1-471) The Economic System. Chapter 17 Section 1 (pgs ) The Economic System at Work ESSENTIAL QUESTION: WHAT ARE THE DIFFERENT.

Meeting global responsibilities by caring for communities.

BTEC Business Unit 3 Introduction to Marketing. How to set up your Coursework Folder? On the white strip write: You need 7 plastic wallets each with a.

Products, Markets and Advertising Products, Markets and Advertising.

INTRODUCTION Kaizen is the Japanese word for "improvement" or "change for the better" refers to a philosophy or practices that focus upon continuous.

Lesson 1 Exploring the World of Business and Economics

20/9/16 – Business- Ansoff’s Matrix, Boston Matrix…..

MGT301 Principles of Marketing

Ansoff’s matrix Hodder & Stoughton © 2017.

Learning Unit 1: Introduction to Design Management (DM): The Context

Chapter 17 (pgs.445FL1-471) The Economic System

Chapter 1 Marketing: Creating and Capturing Customer Value

3.5.4 The impact of government and the EU

20/9/16 – Business- Ansoff’s Matrix, Boston Matrix…..

Environmental and Industry Analysis

Environmental and Industry Analysis

1.3.5 Marketing Strategy.

Marketing and agribusiness management

ISO 14001:2015 Revision Explaining the Key Changes

How much do you know about Nathan?

Creating Competitive Advantage

TECHNOLOGY PUSH / MARKET PULL MARKETING OR SELLING MARKET TYPES

Product Quality and Accountability

SWOT and PESTEL Analysis By MyAssignmenthelp.com MyAssignmenthelp.com.

Presentation transcript:

Bringing an innovative product to market: Assure®

LEARNING OUTCOMES FOR THIS LESSON Explain the innovative nature of Assure by Corus. Outline the significance of testing in a research and development process. Apply the Ansoff Matrix to Corus Colors development strategy.

INTRODUCTION Corus provides steel and aluminium solutions for customers worldwide. A key market for Corus Colors is Controlled Environmental Surfaces (CES). In 2000 Corus saw a new opportunity in this market. In the past, Corus produced the steel and then sold it to a company to be coated with an anti-bacterial coating. This wasted time and took income from Corus. Corus has now produced a steel with the anti-bacterial coating built in. The product's brand name is 'Assure'.

PROMOTION Corus uses two types: Push - Corus highlights the benefits to the supply chain so that they can recommend Assure with their customers. Pull - Corus tells end users of Assure so that they can build into the specification.

MARKET GROWTH The market for pre-finished steel with anti-bacterial protection within the food sector is growing. This is due to: Increased demand for prepared foods. Tougher laws on health standards. Both the public and the press stressing food safety. Consumers being more likely to take legal action if they become ill from bad food. A greater focus on reducing health risks.

RESEARCH AND DEVELOPMENT New product ideas have to be tested to show that: The product can be made. It is safe. It will perform at the right level. The market wants it. It can make a profit.

ANSOFF MATRIX Ansoff's Matrix highlights four possible growth strategies for a business

ANSOFF MATRIX Market penetration occurs when a firm tries to sell more of its existing products in its existing markets, perhaps through greater promotional efforts. Market development occurs when a firm tries to sell its existing products in a new market e.g. a new segment or country. New product development occurs when a firm offers a new product to its existing customers. Diversification occurs when a firm develops new products for new markets.

CONCLUSION Assure is still a new technology for Corus. The company is confident of its success due to the nature and growth of the market. Assure has raised the profile of Corus and enhanced its reputation for innovation.

ASSESSMENT OF LEARNING OUTCOMES How well can you explain the innovative nature of Assure by Corus? How well can you outline the significance of testing in a research and development process? How well can you apply the Ansoff Matrix to Corus Colors development strategy?