Tutor2u is one of the famous Online Educational publishers. The company provides the comprehensive and broad range of supporting resources and some services to students, teachers, educational communities and parents. The company is operating to provide the services of comprehensive and regular study which supports the free subjects and blogs. It provides the service of printed and digital revision and teaching materials for GCSE, A level, IB and other assessments and exams. It provides the specialized support for company and connect with the colleges and schools in United Kingdom (Tutor2u, 2020).
Ansoff matrix is a marketing planning tool, suggests the company future growth strategies. The matrix deals with the products and markets of the company and provide the combination growth strategies. Company will be able to increase the market share and revenue and its market presence. Here is the detailed Ansoff matrix analysis of Tutor2u.
Market Penetration
Market Penetration is the strategy suggested by Ansoff matrix. The matrix encourages the company to penetrate deeply in the market by selling more current products in the current market. Company can opt for different ways like adopting competitive pricing policies to gain competitive advantage. Moreover, company can use different marketing and advertising techniques to create awareness. Company can also penetrate deeply in the market by personal selling and sales promotion.
Tutor2u is a research and educational company. Tutor2u is penetrating in the UK market and also targeting customers across the globe by providing information, research resources, and knowledge on every educational topic. The company is focusing on online market with its services. Tutor2u is keenly attracting consumers from different examination boards like GCSE or IB etc. to gain the competitor advantage (Tutor2u, 2012).
Product Development
Product development is the strategy suggested by Ansoff matrix. This strategy deals with the expansion of new products for the current market. This is also known as product expansion strategy. The company opt for this strategy to increase the product or service portfolio to attract consumers and create prominent presence in the industry. The company can use competitive pricing policy to enter in the market with new product.
Company can introduce different version of existing product or service, or different features or versions of the current products. Tutor2u is the online educational and research information provider. The company can expand itself in providing online library facility to students, teachers, and educational communities. Or the Tutor2u can provide the instore facility to people by providing hard copies of the information and knowledge available on the website (Oxford marketing, 2020).
Market Development
Market development is the strategy which encourages the company to increase the market exposure and entering in new markets with current products. This is also called market expansion. This can be done wither geographically or demographically. By entering in new markets, company targets different consumer base and increase its sales.
Tutor2u provides the online services, which results it in attracting consumers from all around the world. It is attracting different countries clients and providing services worldwide. The company can expand itself in physical stores for providing the information. It is providing the educational knowledge to all ages of consumers both men and women (Tutor2u, 2012).
Diversification
Diversification is the riskiest strategy which suggests the company to introduce new product for the new market. It motivates the company to operate in the different field or area where it was not operating before. If the strategy gets hit, company will be able to take lots of advantages. Tutor2u can diversify itself in the online retail market or online library stores where it will make books available related to different subjects. Company has consumer base, so it will be easier for them to create awareness.
Moreover, tutor2u can also diversify itself in online digital marketing company. Company can promote and advertise business on different platforms. This could be profitable for the company (oxford college, 2020).
References
- Oxford college, 2020. Using the Ansoff matrix to develop marketing strategy. [Online], Available at: https://blog.oxfordcollegeofmarketing.com/2016/08/01/using-ansoff-matrix-develop-marketing-strategy/, [Accessed on: 11th February, 2020].
- Tutor2u, 2020. About us. [Online], Available at: https://www.tutor2u.net/company, [Accessed on: 11th February, 2020].
- Tutor2u, 2012. Strategy Ansoff matrix. [Online], Available at: https://www.slideshare.net/tutor2u/strategy-ansoffs-matrix, [Accessed on: 11th February, 2020].