Ansoff

Question 1

what is Ansoff

Answer 1

Ansoff is a two-by-two framework used by management teams and analysts to help plan and evaluate growth initiatives.

Question 2

what is Market Penetration(Ansoff)

Answer 2

• selling more of these product to existing markets
• When employing a market penetration strategy, management seeks to sell more of its existing products into markets that they’re familiar with or already operate in.
• Helps business determine strategies to sell more of their existing products or services to existing customer base through aggressive promotion and distribution.

Question 3

what is Market Development(Ansoff)

Answer 3

a growth strategy where the business seeks to sell its products to a new market. Focuses on selling existing products into new markets.
they could do this by:
- selling at a new location like in a different country
-getting new packaging
-new distribution channels
- different pricing policies to attract customers.

Question 4

what is Product Development(Ansoff)

Answer 4

a growth strategy where a business aims to introduce new products into an existing markets. some strategies could include:
-research, development and innovation
-detailed insights into customer needs
-being first to the market

Question 5

what is Diversification(Ansoff)

Answer 5

growth strategy where a business markets new products in new markets. this is high risk as
both product development and market development are required.
can help a business achieve altogether new revenue opportunities or reducing a firm’s reliance on a single product or market.