Ansoff matrix

Title: Ansoff matrix
Category: Business & Economy | Words: 293 | Pages: 1.2 (approximately 235 words/page)

Ansoff matrix

Ansoff's Matrix - Planning fo Growth This well known marketing tool was first published in the Harvard Business Review (1957) in an article called 'Strategies for Diversification'. It is used by marketers who have objectives for growth. Ansoff's matrix offers strategic choices to achieve the objectives. There are four main categories for selection. Ansoff's Product/Market Matrix Market Penetration Here we market our existing products to our existing customers. This means increasing our revenue by, for example, …showed first 75 words of 293 total…

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…showed last 75 words of 293 total…of diversification, namely related and unrelated diversification. Related diversification means that we remain in a market or industry with which we are familiar. For example, a soup manufacturer diversifies into cake manufacture (i.e. the food industry). Unrelated diversification is where we have no previous industry nor market experience. For example a soup manufacturer invests in the rail business. Ansoff's matrix is one of the most well know frameworks for deciding upon strategies for growth.

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