ainsoff

Question 1

market penetration

Answer 1

-lowest risk but smallest reward
-Business increases their market share in an existing market
-e.g advertising, sales promotion

Question 2

product development

Answer 2

-selling new products in existing markets
-innovative product for same market segment
-e.g. phone innovation of new model

Question 3

market development

Answer 3

-selling the same products in different market
-uses repositing-business focuses on different segment of the market
-e.g. focusing on new geographics markets (e.g in a different market)

Question 4

diversification

Answer 4

-selling new products into new markets
-Most risky but has the biggest reward

Question 5

advantages of ansoff matrix

Answer 5

-forces managers to think about risks of going in a certain direction

Question 6

disadvantages of ansoff matrix

Answer 6

doesnt show diversification and market development and how it also changes day to day spending