MKTG3000 ASS 1
Church’s Chicken is a quick service restaurant located in Trinidad, under the umbrella of Global Brands Limited (GBL), a company with corporate owned restaurants in several locations in the Caribbean. GBL also represent leading brands such as Rituals Coffee House, Donut Boys, Pizza Boys, Vie de France, Wok 'n ' Roll and the VIP Flyers ' Lounge. At most locations in Trinidad the same building or location is used to house Rituals Coffee House, Donut boys, Pizza Boys and Church’s Chicken. As well as offering Chicken meals with classic side orders, beverages and dessert to over the counter customers, Church’s Chicken also cater meals. No job is too large or too small. Their mission is to provide the best quality products and service in a clean family oriented environment (Pizzaboys.com 2015).
Church’s Chicken is seeking to identify growth opportunities for its products with the use of the Ansoff Matrix to guide this venture.
The Ansoff Matrix is a market planning tool designed by H. Igor Ansoff, used to assist companies with decisions that pertain to product and market growth strategies. It highlights ways of growing the business through existing or new products and in existing or new markets. Each of these growth options draws on both internal and external influences, investigations, and analysis that are then worked into alternative strategies. It presents four alternative growth strategies in the form of a 2x2 table or matrix. One dimension of the matrix considers 'products ' (existing and new) and the other dimension considers 'markets ' (existing and new) (Free-management-ebooks.com 2015). The resultant matrix is built upon four strategies: Market Penetration
With this strategy you focus on selling your existing products or services to your existing markets to achieve growth in market share. There are four approaches you can adopt when implementing this strategy:
Retain or increase your product 's market share
Dominate growth markets
Drive out your
Church’s Chicken is seeking to identify growth opportunities for its products with the use of the Ansoff Matrix to guide this venture.
The Ansoff Matrix is a market planning tool designed by H. Igor Ansoff, used to assist companies with decisions that pertain to product and market growth strategies. It highlights ways of growing the business through existing or new products and in existing or new markets. Each of these growth options draws on both internal and external influences, investigations, and analysis that are then worked into alternative strategies. It presents four alternative growth strategies in the form of a 2x2 table or matrix. One dimension of the matrix considers 'products ' (existing and new) and the other dimension considers 'markets ' (existing and new) (Free-management-ebooks.com 2015). The resultant matrix is built upon four strategies: Market Penetration
With this strategy you focus on selling your existing products or services to your existing markets to achieve growth in market share. There are four approaches you can adopt when implementing this strategy:
Retain or increase your product 's market share
Dominate growth markets
Drive out your
References: (2015). Retrieved 15 February 2015, from . http://www.rewardinglearning.org.uk/common/.../microsite_doc_link.aspx?...1 (2015). Retrieved 15 February 2015, from . http://pizzaboys.com/churchs/corporate-info Free-management-ebooks.com,. (2015). Ansoff Matrix | Free eBook in PDF, Kindle and ePUB Format. Retrieved 15 February 2015, from http://www.free-management-ebooks.com/dldebk/dlst-ansoff.htm. UWI Course Material MKTG3000 Market Management