Theme 3 Flashcards
1
Q
Ansoffs Matrix
A
4 growth strategies to product and market strategy.
2
Q
Market penetration
A
Developing existing products in existing markets (same target audience). Low risk. Aims to increase market share
3
Q
Product development
A
Selling new products to existing market. Risk= not knowing products, High RandD costs.
4
Q
Market Development
A
Selling existing products to a new market. Risk=not knowing new customers in market
5
Q
Diversification
A
New products in New markets. High risk as two elements are unknown. Greatest reward potential.
6
Q
Evaluation of Market Penetration
A
