3.8 Strategic direction Flashcards
1
Q
What are the 4 sections of Ansoff matrix?
A
Market penetration
New product development
Market development
Diversification
2
Q
Ansoff matrix axis
A
Existing/new markets
Existing/new products
3
Q
Market penetration
A
Boost sales of existing product in existing market
4
Q
Market development
A
Offering existing products but targeting new market
5
Q
New product development
A
Developing new product for existing customers
6
Q
Diversification
A
Offering new products to new customer groups
7
Q
Influences on choice of strategy
A
Cost
Return
Risk
Ethical
Stakeholders
Opportunity cost
8
Q
Porters generic strategies 2
A
Cost leadership
Differentiation
9
Q
Costs or differentiation depends on
A
Mass or niche market
10
Q
Influences on strategic positioning
A
Where competitors are positioned
External environment
Strengths/ weaknesses
