Ansoffs Matrix Explanation Essay Example for Free

Ansoffs intercellular substance Explanation EssayUsing the same yield in the same market, however altering the looks or the style of the product to make is look new to encourage higher sales. E.g. Coca-Cola using different styles of speed of light and using different advertising campaigns to sell the same coke product.Product maturementWhen a new product is used in the same market. For causa if coke sold juice, it would still be in the same drinks market however it would be a different product.New marketMarket developmentSelling the same product to a new market. It has a higher risk because it is a different set of customers.An example of this is Tescos expansion into flatulency sales.DiversificationA new product to be sold in a alone new market. This has a higher risk because it is a completely new idea and may not catch-up quickly which may lead to the company making a loss. A good example of the unrelated variegation is Richard Branson. He took advantage of the virgin b rand and diversified into various fields such as entertainment, air and rail travel foods etc.Ansoffs MatrixMain Definition The Ansoff Matrix is a strategic planning tool that provides a framework to help executives, senior managers and marketers devise strategies for future growth. It was created by Russian American, applied mathematician and business manager, Igor Ansoff The Ansoff Growth matrix is a marketing planning tool that helps a business determine its product and market growth scheme