BMT 2 Ansoff Matrix Flashcards
1
Q
Ansoff Matrix (def)
A
A matrix showing different strategies in which a business can grow
2
Q
Ansoff Matrix (diagram)
A
3
Q
Market penetration
A
Sell existing products in existing market
Growth strategy is to sell more of existing products:
* decrease prices
* increase promotion
* buying a competitor
Lowest risk:
* doing the same as before
4
Q
Market development
A
Selling existing products in new markets:
* New geographical markets
* new consumers
Medium risk growth strategy
5
Q
Product development
A
selling new products in existing markets
product extension strategies
medium risk growth strategy
6
Q
Diversification
A
Selling new products in new markets
there is related and unrelated diversification
high risk growth strategy
