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Matrix Analysis - Essay Example

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Matrix Analysis

The company has launched a packaged holiday in Turkey in the city of Didyma. Therefore a complete analysis is done over the packaged holiday in Didyma. Boston Consultancy Group Matrix The BCG matrix is a tool used for examining the company’s portfolio of products and market share. This matrix is widely used in analysing the brand marketing, strategic management, product marketing and portfolio analysis (Stern & Deimler, 2006, p.36). Figure 1: BCG Matrix (Source: Stern & Deimler, 2006) The company Jet2holidays has been into the business since 2007 and since then it has acquired a reasonable market share in the packaged holiday market. It offers package tour in various destination across the globe. The company is focusing more on the growth of leisure sector of the airline market and the tour operator market. The company plans to expand its business, grow its Jet2holidays by choosing a wide range of attractive hotels, destinations etc (Dart Group Plc, n.d). Thus it can be concluded that Jet2holidays is a Star in the Boston Consultancy Group Matrix. This is because Star has a high market share and high growth rate. Jet2holidays, at present is in a growing stage with a huge opportunity to grow in the future. The company is spending on its expansion and branding, on advertisements and product development so that when the market for the tour operator slow down due to economic slowdown or any other reason, it can act as a cash cow for the organisation. Jet2holidays has expanded its packaged tour

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in Didyma, a place in Turkey and have tied up with hotels such as Palm wings beach resort, Didim beach resort and Tuntas Hotel. This is a market strategy adopted by the company to attract more and new customers. Thus Jet2holidays is expanding heavily and is trying to gain as much market share as possible and therefore is a Star for the company. If the market share is lost, the product would eventually become a dog when the market becomes stagnant. The Ansoff Matrix The Ansoff Matrix is a tool which helps in analysing the various growth opportunity for a company. The matrix relates only to markets and products and gives four alternative options with regard to marketing objectives. They are, market penetration, market extension, product development and diversification (Stone, 2001, p. 50). Figure 2: The Ansoff Matrix (Source: Dennis, Fenech & Merrilees, 2004) The company, Jet2holidays has launched a new product of holiday package in Turkey which would travel into a new city named Didyma. Jet2holidays have been operating in Turkey in Bodrum and Dalaman (Jet2holidays, 2011). Since Jet2holidays is already operating in Turkey and only the product introduced is new and into a new place, it is analysed that the product falls under ‘product development’ in The Ansoff Matrix as it’s a new product but introduced in the present market. In product development, the company introduces a new product but in the present market or the market that the company has been operating. Since Jet2holidays is at a growing stage thus it is necessary for the company to invest more on the brand and make it a successful product. Turkey new destination would attract many old as well as potential tourists and at a reasonable rate which would enhance the success of Jet2holidays. By expanding, Jet2holidays would be able to capture the market share and move ahead of its competitors. Therefore it has been

Summary

Matrix Analysis Contents Matrix Analysis 1 Contents 2 Introduction 3 Boston Consultancy Group Matrix 3 The Ansoff Matrix 4 Reference 7 Introduction Jet2holiday is a part of Dart Group Plc, it operators in aviation and tour operator. Jet2holiday offers packaged tours at a less price because of the variety of elements involved in the overall package…
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Matrix Analysis Essay essay example
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