ansoff matrix Flashcards

1
Q

what are the 4 parts of Ansoff matrix

A

market penetration
new product development
market development
diversification

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2
Q

market penetration

A

incnreasing your market share in existing amkret
e.g promotions, pricing strategies, advertising

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3
Q

new product devlopment

A

selling new products in existing market

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4
Q

makret development

A

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

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5
Q

disveristification

A

sellign new products to new market
most risky strategy

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6
Q

adv of ansoff matrix

A

forcese managers to think about expected risks when moving in a certain direction

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7
Q

dis of ansoff matrix

A

doesnt take into account of what businesses competitors are doing

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8
Q
A
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