Marketing strategies can be examined using the Ansoff matrix.
Analyse sectorielle : Marketing strategies can be examined using the Ansoff matrix.. Recherche parmi 301 000+ dissertationsPar yassine324 • 22 Juin 2016 • Analyse sectorielle • 263 Mots (2 Pages) • 891 Vues
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The Ansoff Matrix
Marketing strategies can be examined using the Ansoff matrix.
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[pic 4] [pic 5] MARKET PENETRATION | PRODUCT DEVELOPMENT |
MARKET DEVELOPMENT [pic 6] | DIVERSIFICATION |
The two main variables in a strategic marketing decision:
- The market in which the firm was going to operate.
- The product intended for sale.
Product development
- Sell new products in existing markets i.e. soft drinks
- Low risk
- Low cost
- Established companies can use this strategy because they already have an existing market
- May require a complete marketing mix strategy
Market Penetration
- Sell more products (existing) in existing markets
- Could be use to move stock
- Low risk/cost
- Marketing mix strategy especially price
- Used frequently if competition exists (substitute goods)
- Attempting to sell a product for a different occasion
Market Development
- Achieve high sales/higher market share of existing products in new markets
- Medium risk
- Marketing strategy i.e. promotion
- New segments/maybe overseas markets
- Example = Lucozade – originally used for health/flu now a sports drink
Diversification
- Selling new products in new markets
- Highly expensive
- Time consuming
- Can help to spread risk
- Proctor/gamble
- May have little expertise
- Example = Virgin changing to an airline/train
Ansoff Matrix Key Points
- Allows managers to analyse the degree of risk
- Managers can then apply decision making techniques to assess costs/potential benefits
- Particular strategy could depend on the size of the business, the number of products produced, rang and mix
- A final decision should also reflect additional research both internal and external, primary and secondary data and an assessment of the current position
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