Ansoffs Matrix
•
Ansoffs Matrix gives organisations five
business options:
1. Market Penetration: This involves increasing sales of an existing product and penetrating the market further.
2. Product Development: The organisation develops new products to
aim within their existing market.
3. Market Development: The organisation adopts a strategy of selling existing products to new markets.
4. Diversification: Moving away from what you
are
selling (your core activities) to providing something new e.g. Moving
over from selling foods to selling cars.
5. Consolidation: Withdrawing from particular markets, scaling back on operations and concentrating on its
existing products in existing markets.
