Ansoff Matrix

Question 1

Strategic Planning

Answer 1

Game Plan for Long-term survival & growth that blends tactics with educated Hypotheses

Question 2

Mission

Answer 2

Public market-oriented statement of company’s purpose (“What”,”How”) & activities which rarely change (Involves the journey and Drives focus)

Question 3

Vision

Answer 3

Aspirational statement about the future they intend to create it may also change every few years (“Informs why”)

Question 4

Core Values

Answer 4

Selection of words iterating core principles

Question 5

the 5 marketing concepts with which we create value

Answer 5

Production, Product, Selling, Marketing, Societal (Triangulates Long-term benefits)

Question 6

Portfolio

Answer 6

Collection of businesses and products that make up the company

Question 7

the steps in business portfolio planning

Answer 7

1. Analyze current business portfolio
2. Develop strategies to shape future portfolio

Question 8

Portfolio Analysis

Answer 8

Identify Strategic business units such as products and businesses (SBUs)
Assess SBU’s Attractiveness
Decide on the level of SBU support

Question 9

What to do after a portfolio analysis

Answer 9

Direct resources toward more profitable businesses and phase down weaker ones (Divesting)

Question 10

Ansoff Matrix (Create table)

Answer 10

Existing Products + Existing Markets = Market Penetration
Existing Products + New Markets = Market Development
New Products + Existing Markets = Product Development
New Products + New Markets = Diversification

Question 11

Divestment Strategies

Answer 11

essential for SBUs that are no longer profitable or no longer fit the company’s mission (Frees up resources for reallocation)

Question 12

Marketing Plan Steps

Answer 12

1. Executive Summary
2. Current Marketing Situation
3. Threats and Opportunities Analysis
4. Objectives and Issues
5. Marketing strategy
6. Budgets
7. Controls

Question 13

Marketing Plan: Executive Summary

Answer 13

Brief summary of the main goals and recommendations

Question 14

Marketing Plan: Current Marketing Situation

Answer 14

Gives the market description and the
product, competition, and distribution
review

Question 15

Marketing Plan: Threats and Opportunites

Answer 15

Helps management to anticipate important
positive or negative developments

Question 16

Marketing Plan: Objectives and Issues

Answer 16

States and discusses marketing objectives
and key issues

Question 17

Marketing Plan: Marketing Strategy

Answer 17

Outlines the broad marketing logic and the specifics of target markets, positioning, marketing expenditure levels, and strategies for each marketing mix element

Question 18

Marketing Plan: Action Programs

Answer 18

Spells out how marketing strategies will be turned into specific action programs

Question 19

Marketing Plan: Budgets

Answer 19

Details a supporting marketing budget that is projected profit-and-loss statement

Question 20

Marketing Plan: Controls

Answer 20

Outlines the controls that will be used to monitor progress, allow management to review implementation results, and spot products that are not meeting their goals

Question 21

Which customers to serve?: Market Segmentation

Answer 21

Dividing market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs

Question 22

Which customers to serve?: Targeting

Answer 22

Evaluating each segment’s attractiveness and selecting one or more segments to go after

Question 23

How will we create value for them?: Positioning

Answer 23

Occupying a clear, distinctive, and desirable place relative to the competition (Promise)

Question 24

How will we create value for them?: Differentiation

Answer 24

Creating superior customer value through an integrated marketing mix (Performance)