UNIT 8 ANSOFF MATRIX Flashcards
ansoff matrix is one way ..
strategic direction of a bs can be analysed
What does matrix consider
firms strategy in terms of
products it offers
and
mkt which it operates
What are the headers onteh bottom left of teh matrix
Existing Markets
New Markets
What are the headers on the top right of the matrix
Existing Products
New Products
What is teh comno (top left of the matrix)
Existing Markets + Existing Products
Market Penetration
What is the combo (bottom left of matrix)
New Markets + Existing Products
Market Development
What is the combo (top right of matrix)
Existing markets + new products
New Product Development
What is the combo (bottom right of matrix) new market + new product
diversification
in reakity there are many diff version of these strategies fgive exmaple .. new product, IT CAN BE?
3 MARKS
exsiting product, slightly modified
product new to bs but not mkt
somehtign highly innovative that’s not been produced by anyone before
as theres many diff versions of strategies e.g new product new has
varying degrees of new ness
new mkts can mean
expanding…
expanding into region few miles away from where currently operating
or
expanding globally and dealing with v diff mkt conditions
because ther are various way to interpet strategies what can we have on ansoff matrix model
scale that shows how new products and markets are rather than just saying new or exsisiting
some degree of newness in terms of markets could be expanding age …
range of target mkt
very new market in terms of degree scale could be targeting locatIonwise
new continent
we shoudl apprecite that a bs can pursue
several strategies at same time
give example fo bs pursuing multiple strategies at same time in GENERAL
bs trying ot boost sales of exisitnig profucts in exisitng markets (PENETRATION)
whilst
Developing enw products and pursuing overseas(diversification)
Give real life example of firm pusrsuing multiple strat + Varying degrees COCA COLA
coca cola modifiying exsiting products - through having diff packaging(NPD)
while moving into new markets with monster energy drinks (market development)
in terms of theories and rembering waht ansoffs matrix is for how can we rember it
a for analysing te strategic direction of a bs
how can we eval risks of a business in pursuing diff directios
varying degrees of newness scale for mkt nd products
