Ansoff's Matrix Flashcards
1
Q
What is Ansoff’s Matrix?
A
A strategic tool used to help a business that wishes to grow. It looks at the business’s martkets in terms of existing and new products and existing and new market opportunities
2
Q
What are the two axis?
A
market and product
3
Q
What is market penetration?
A
Existing product and existing market
4
Q
What is product development?
A
New product, existing market
5
Q
What is market development?
A
Existing product, new market
6
Q
What is diversification?
A
New product, new market - most risky
7
Q
Why might there be conflicts in decision making?
A
Different tools may suggest different things, different stakeholders may have different interests, information might not reflect reality
