Matrix Of Ansoff Matrix

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Anosff matrix was invented by H. Igor Ansoff in 1975. He was mainly a mathematician with a profound insight into business management. In order to demonstrate growth strategies of the company, he introduced this matrix that focused on presented situations, potential products, markets shares and customers of the company during their life cycle by considering possible technological advances. Anosff market growth matrix illustrates that company wants to grow depend on whether its markets new or existing products in new or existing markets. It also can reflect a series of growth strategies that set the direction for the business strategy. These four areas comprise the Ansoff growth matrix, which are market penetration, market development, product development, and diversification. The market penetration strategy as the…show more content…
It may also be known as Market Extension. It includes the pursuit of more market segments or geographical regions. With existing products developing new markets, company should focus on different consumer’ demand who has the same kind of product demand in different markets. It can be possible through further market segmentation in order to help identify a new clientele base. It is necessary to adjust the product position, sales methods and promotion. For example, exporting the product to the new countries; changing new product dimensions or packaging way; innovating new distribution channels and the other innovation. Nonetheless, they do not need to change the core technology of the product itself. I would like to give an example; there are some leading cosmetics companies like Dior, Chanel, and Lancôme that have entered into international markets for expansion. And they do not end their steps to continue to expand their brands through new global markets. Certainly, facing the smaller enterprises, it is better to implement this strategy into another market where its product without currently

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