How can the Ansoff Matrix help you develop a strategy for your company?
Posted: Sun Dec 22, 2024 8:43 am
In 1957, Harry Igor Ansoff, an American economist and mathematician, developed a model to formulate a company's optimal strategy based on the evaluation of decision variables. His theory was called the Ansoff matrix. It is based primarily on market and product analysis , examining the relationship between both factors and ultimately selecting the scenario that best contributes to the company's development.
What are the company's growth code phone number philippines strategies?
The choice of an appropriate strategy for a company must be preceded by an in-depth analysis of the company. It is worth taking note of the current performance of the market and the products sold in it, and then evaluating whether any changes should be made in a particular area. To simplify the analysis, HI Ansoff presents four possible strategies for the development of a company.
By choosing this concept, the company remains in its current market, where it offers unchanged products or services. By choosing this strategy, the company focuses on increasing the number of existing customers and reaching new consumer groups within the same market. Intensifying marketing and promotional activities plays an important role here, in order to intensify its market share and thus increase sales.
2. Market development
This strategy is chosen when a company no longer has the opportunity to increase its sales intensity in its current market and decides to distribute its current offering into new markets. This can be understood geographically (e.g. expansion into foreign markets) or as expansion into new market segments. This is a riskier scenario than the first strategy, as it requires the company to be aware of the needs and requirements of new consumer groups.
What are the company's growth code phone number philippines strategies?
The choice of an appropriate strategy for a company must be preceded by an in-depth analysis of the company. It is worth taking note of the current performance of the market and the products sold in it, and then evaluating whether any changes should be made in a particular area. To simplify the analysis, HI Ansoff presents four possible strategies for the development of a company.
By choosing this concept, the company remains in its current market, where it offers unchanged products or services. By choosing this strategy, the company focuses on increasing the number of existing customers and reaching new consumer groups within the same market. Intensifying marketing and promotional activities plays an important role here, in order to intensify its market share and thus increase sales.
2. Market development
This strategy is chosen when a company no longer has the opportunity to increase its sales intensity in its current market and decides to distribute its current offering into new markets. This can be understood geographically (e.g. expansion into foreign markets) or as expansion into new market segments. This is a riskier scenario than the first strategy, as it requires the company to be aware of the needs and requirements of new consumer groups.