Ansoffs matrix

• What is Ansoffs matrix? 


  Ansoffs matrix is a strategic planning tool used by businesses to analyse and plan their growth starteries.
• The direction for growth is based on what?

  • Whether the business is targeting existing or new markets.
  • Whether they are focusing on existing or new products
• what are the 4 categories of the Ansoffs matrix?

  • Market penetration]
  • Product development
  • market development
  • Diversification
• what is market penetration?

  When a company focuses on selling more of its existing products to its current market
• How may a company implace market penetration?

  • Agressive marketing campaigns
  • promotional offers
  • Pricing strategies

  All to sell more existing products to the current market.
• What is product development?

  This is where a company seeks to introduce new products into existing markets. ( mc plant burger)
• How may product development be introduced?

  Creating new prodcuts that apeal to the WANTS AND NEEDS of current customers.
• what does product development require?

  Research and development, innovation and again agresive marketing
• What is market development?

  Expanding in to new markets with existing products
• what is the aim of market development?

  to leverage existing products into untapped markets to increase sales and revenue.
• what are some ways market development can be implaced?

  • selling vie new distribution channels
  • entering new geographical areas
  • Targeting different demographics
• What is diversification?


  Selling new products in brand new markets. - quite risky.
• why is diversification risky?

  • Developing new products
  • New market - has to be researched.
• what is needed for successfull diversification?

  Careful market analysis, innovation and effective management of resources.