Welcome to an installment of Aberystwyth Business School's Video Lecture Series.
These lectures are in-line with the A-level Business Studies Curriculum across the UK.
Our apologies for the videos being only available, currently, in English
Mr and Mrs Roberts own a high street bakery in a rural market town. They mainly sell freshly baked loaves and rolls to locals and tourists. They also make a variety of cakes and are well known for their Chelsea buns. They are open 6 days a week and currently take around £600 a day. Their costs are rising and they do not want to increase prices. They are looking for a marketing strategy to help them sell more of their produce. They have set an objective to achieve £1000 a day revenue within the next 2 years but are not sure how to achieve this. They are happy to try out new recipes and have a small room at the side of the bakery that is currently empty.
You are a marketing consultant who, with the aid of the Ansoff matrix will advise them on the best avenue(s) to take.
(Market Penetration - existing products to existing markets, risk factor 1)
(New Product Development or New Product Introduction - new products to existing markets, risk factor 2)
(Market Development - existing products to new markets, risk factor 4)
(Diversification - new products to new markets - these can be related products/markets or unrelated to current offerings, risk factor 16)
Use the matrix to come up with one idea for each area of the matrix (above), and explain how your ideas will help Mr and Mrs Roberts to achieve their objective.