ansoff matrix Flashcards
what are the 4 parts of Ansoff matrix
market penetration
new product development
market development
diversification
market penetration
incnreasing your market share in existing amkret
e.g promotions, pricing strategies, advertising
new product devlopment
selling new products in existing market
makret development
selling existing products to new market
done through repositiong-where business focuses more on different segment of makret may need to research about their traget and how it can adpat its product
disveristification
sellign new products to new market
most risky strategy
adv of ansoff matrix
forcese managers to think about expected risks when moving in a certain direction
dis of ansoff matrix
doesnt take into account of what businesses competitors are doing