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Marketing strategies can be examined using the Ansoff matrix.

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Par   •  22 Juin 2016  •  Analyse sectorielle  •  263 Mots (2 Pages)  •  747 Vues

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The Ansoff Matrix

Marketing strategies can be examined using the Ansoff matrix.

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MARKET PENETRATION

PRODUCT DEVELOPMENT

MARKET DEVELOPMENT

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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

  1. Allows managers to analyse the degree of risk
  2. Managers can then apply decision making techniques to assess costs/potential benefits
  3. Particular strategy could depend on the size of the business, the number of products produced, rang and mix
  4. 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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