ANSOFF PRODUCT MARKET EXPANSION GRID PDF

Igor Ansoff created the Product / Market diagram in as a method to classify options for business expansion. The simplisity of this model is. Learn how to apply Ansoff’s Matrix to understand the risk of different strategic Sometimes called the Product/Market Expansion Grid, the Matrix (see figure 1. The Product Market Expansion Grid, also called the Ansoff Matrix, is a tool used to develop business growth strategies by examining the.

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To make this website work, we log user data and share it with processors. Either way, both strategies can lead to additional earnings for the business.

Going into an unknown market with an unfamiliar product offering means lack of experience in the new skills and techniques required. For a full case study of a market penetration strategy, take a look at this article I recently wrote about its implementation at Heinz.

Current products may, for example, be placed in different geographic prodduct or directed toward new demographic segments to stimulate demand and increase growth. Imitation with a Twist. An organization that already has a market for its products might try and follow a strategy of developing additional products, aimed at its current market.

Introduce a loyalty scheme. Email required Address never made public. You are commenting using your Twitter account. About project SlidePlayer Terms of Service. It involves increasing market share within existing market segments. Market Development Market development is a ansof strategy that involves the introduction of current products into new markets. It also focuses on whether a aneoff is new or existing.

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Many prestige car manufacturers offer a range of merchandise targeted at car owners so that you can buy replica models, clothing and pens.

An organization’s current product can be changed improved and marketed to the existing market. Therefore, the company puts itself in a great uncertainty. Chapter 8 — Producing and Marketing Goods and Services. Buy a competitor company particularly in mature markets.

Brand new products may also be created in an attempt to leverage aneoff company’s brand name.

Igor Ansoff’s Product-Market Expansion Grid

Diversification is the riskiest of the four growth strategies. NEW Market, NEW Product This involves the production of a new category of goods that complements the existing portfolio, in order to penetrate a new but related market. Published by Julius Austin Modified about 1 year ago. Good article, Ansoff model well explained. Even so, Coca-Cola would not be the power house it is today without knowing when to step out of its comfort zone — the Glaceau acquisition being a clear case in point.

With a year-on-year decline in sales of carbonated soft drinks like Coca-Cola, the brand anticipates the drinks market may be heading less-sugary future — so has jumped on board the growing health drink sector.

Coca-Cola: Ansoff Matrix | the Marketing Agenda

He is trying to sell more of the same things to different people. To use this website, you must agree to our Privacy Policyincluding cookie policy. Hi I think this is great- very good practical example of the application of the Ansoff matrix product-expansion grid.

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You are commenting using your Facebook account. Leave a Reply Cancel reply Enter your comment here With this strategy, marketers focus their efforts on developing new goods and produt that will be attractive to current customers. The company has since gone on to successfully launch other flavoured variants including lime, lemon and vanilla.

Igor Ansoff’s Product-Market Expansion Grid

Marketing techniques used to achieve marketing penetration include increased advertising, identification of new uses for products, price reductions, use of incentives and so on. Management may expect great economic value growth, profitability or first and foremost great coherence and complementary to their current activities exploitation of know-how, more efficient use of proeuct resources and capacities. This involves the production of a new category of goods that complements the existing portfolio, in order to penetrate a new but related market.

This involves developing new products for existing markets by thinking about how new products can meet customer needs more closely and outperform competitors.

That said, Coca-Cola offers official merchandise from pens and glasses to fridges, therefore exploiting its strong brand advocacy through this strategy.

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