![]() ![]() ![]() This strategy involves an attempt to increase market share within existing industries, either by selling more product to established customers or by finding new customers within these markets – typically by adapting the ‘Promotion’ element of the Marketing Mix. Market Penetration: ( EXISTING Market, EXISTING Product) To demonstrate the robustness and legitimacy of Ansoff’s Matrix, it has been applied to Coca-Cola, the most well-known trade name in the world and a company today operating in over 200 countries and a brand that has undertaken countless growth strategies in its 100+ year history. But how does a business decide upon the best strategy for growth? The Ansoff Matrix management tool offers a solution to this question by assessing the level of risk – considering whether to seek growth through existing or new products in existing or new markets. The objective of every business is to grow, be it a start-up that’s just closed its first deal or an established market leader seeking to further increase profitability.
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