Growth Matrix Of Ansoff

Recognizing an organization’s alternatives for growth is an important process for companies. By evaluating and selecting the competitive advantages within a market a company can distinguish themselves from their competition. For an organization the “grand strategies indicate the time period over which long-range objectives are to be

Firms must consider many strategies when attempting to realize growth. Depending upon the stage of

Pfizer is the largest American pharmaceutical company and one of the largest pharmaceutical companies in the world. It competes with Merck and Glaxo, and markets such well-known medications as Celebrex and Viagra. However, the pharmaceutical industry as a whole has undergone changes in recent years with significant consolidation taking place and with increased scrutiny regarding the ways in which drugs are developed, tested and marketed. In addition, recent controversies have erupted regarding Merck's drug Vioxx, and Pfizer has been the target of unwanted publicity regarding its painkiller Celebrex. This research considers the strategic position of Pfizer, including its strengths and weaknesses as well

Ansoff’s Matrix is a useful tool for analysing the approach to the marketing strategy of a business. The matrix puts markets against products and will suggest one of four marketing strategies for the business to follow.

Diversification is when a business introduces a new product to a new market. It is one of the great ways to seek the profit by introducing new products and hoping to sell. Diversification is part of the four main growth strategies defined by the Product/Market Ansoff matrix.

New Markets not only refer to different geographical (such as country, city, state, region, etc.) but also demographical (Sex, Age, Group, etc.). Same as the Market Penetration strategy that company does not launch new products and services. Also, company does not modify and enhance the existing products and services. Instead, this strategy is used to develop new markets by existing products and services. For example, computers company whose target customers are the corporate customers. But they would like to expand the target markets to consumers market for family or personal use. Also, a theme park offers 50% off promotion for customers’ age over 50 in order to expand the market segments to this age group. In addition, Europe stores or brands support online buying and waive the international delivery charges can also help to expand the market outside of

Diversify their portfolio of service and product offerings to meet the strategic needs of their target market.

Commercialization: The Company has developed advertisement and package according to different market around the world. The company also keeps on record their new product sale force for the next development.

This process helps a firm or organisation in focusing its marketing effort towards a specific segment or a group of segments. Depending on the product, organisational goals, the size of the firm and the marketing resources available a firm may target only one ‘niche’ segment or alternatively focus on several related segments. Another method can be to start with one segment and add more when business grows successfully. Large companies often target all market segments and try to serve them by offering a large variety of products to suit all their needs, wants and demands.

The company opted for an aggressive growth strategy which is primarily based on amongst others a geographic expansion:

product features for this audience. The company was beginning to develop real traction in this

It is aimed at the broad mass market and involves the creation of a product or service that is perceived unique throughout the industry. The company or

Market development is often described as market expansion growth strategy, it requires selling current products in a new market. There are numerous reasons why a business might contemplate a market expansion strategy. First, there is no room for growth within the current market the competition may be profound. As well as, sales, and profits will not increase if a business cannot find new markets for its products. In like manner, when a business uncovers various uses for its product it will use a market expansion strategy. To clarify, a soap dispenser that wholesales to retail stores may uncover the fact that factory workers

A firm's aim is to survive and grow. Marketing helps achieve this through marketing activities, for example the process of market segmentation leads to the identification of a suitable target market. This identification means firms can manipulate a series of controllable factors- price, place, promotion and product, otherwise known as the marketing mix to produce a positive response in their target market. However a firm must also take into account the marketing environment; these are factors outside the firm's control. These can influence a firm's relationship with their target market; ignoring them can have disastrous consequences.

* The company would develop innovative products that meet the demanding needs of customers in order to increase sales.