Ansoff Matrix

Question 1

Ansoff Matrix

Answer 1

A marketing planning model that helps a business determine its products and market growth strategy and looks at the risks involved

It helps determine the right growth strategies in terms of products its sells and markets it looks to compete in

Question 2

Market penetration

Answer 2

• lowest risk
• a growth strategy where a business aims to sell existing products into existing markets
• the aim is to increase market share by selling more existing products(widen the range) to the same target customers

Question 3

Market penetration evaluation

Answer 3

-business focuses on markets and products it knows well

. The business can exploit insights on what customers want (and competitors)

. Unlikely to need significant new market research

Question 4

Product development

Answer 4

A growth strategy where a business aims to to introduce new products into existing markets

Question 5

Evaluating product development

Answer 5

.a strategy that often plays to the strengths of an established business
.strong emphasis on effective market research( insights into customer needs) and success innovation
.a great way of exploring existing customer base
.being first to the market is usually important

Question 6

Market development

Answer 6

A growth strategy where the business seeks to sell its existing product into new markets

Question 7

Evaluating market development

Answer 7

.Logical strategy

.more risky than product development

Question 8

Diversification

Answer 8

The growth strategy where a business markets new products in new markets

Question 9

Evaluating diversification

Answer 9

.risky strategy

.approaches to diversification