3.1.2 Theories of Corporate Strategy Flashcards
1
Q
What is Ansoff’s Matrix
A
A strategic tool to help achieve growth by presenting the product and market choices available to a business.
2
Q
4 Categories involved in Ansoff’s Matrix
A
- Market Penetration
- Product Development
- Market Development
- Diversification (unrelated & related)
3
Q
What is Market Penetration
A
Business focuses on selling existing products to existing markets.
4
Q
What is Product Development
A
Business aims to introduce new products into existing markets.
5
Q
What is Market Development
A
Business seeks to sell its existing products into new markets.
6
Q
What is Diversification
A
Business aims to bring new products into new markets.
