The three methods that organizations can use to diversify into new markets with new products.The three approaches to brand extension that can maximize the opportunities for success whilst minimizing the risks.The risks inherent in a market development strategy and how these can be minimized.The four ways that an increase in market penetration can be achieved.How the Ansoff Matrix can help you to develop a strategy for improving your market position.
Diversification can occur at two levels: either at the business unit level or at an organizational level. There are three broad approaches: the new product is closely associated with current products it matches current customers' purchasing habits or it reinvents or refreshes the existing product.Ĭhapter 5 - What is a diversification strategy?Ī diversification strategy achieves growth by developing new products for completely new markets.
This strategy requires continuous research & development as well as the ongoing assessment of customer needs. There are four strategies that can achieve this: new geographical markets new product dimensions or packaging new distribution channels or the creation of a new market segment by means of different pricing.Ĭhapter 4 - What is a product development strategy?Ī product development strategy involves developing new products or services for your existing markets. This can be achieved in four ways: maintaining or increasing the market share of current products securing dominance of growth markets restructuring a mature market by driving out competitors or increasing usage by existing customers.Ĭhapter 3 - What is a market development strategy?Ī market development strategy involves selling your existing products into new markets. Market penetration involves focusing on selling your existing products or services into your existing markets to gain a higher market share. Each of these growth options draws on both internal and external influences, investigations, and analysis that are then worked into alternative strategies.Ĭhapter 2 - What is a market penetration strategy? It can help you consider the implications of growing the business through existing or new products and in existing or new markets. The Ansoff Matrix, or Ansoff Box, is a business analysis technique that provides a framework enabling growth opportunities to be identified.
This free eBook describes the Ansoff Matrix, a strategic planning tool that links an organization's marketing strategy with its general strategic direction.
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Click the PDF icon below to download the eBook from the Online Library.īook Description - ISBN 978-1-62620-950-3 (28 Pages)
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