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Ansoff’s matrix suggests four alternative marketing strategies which hinge on whether products are new or existing. Market penetration – This involves increasing market share within existing market segments.
Market development – This strategy entails finding new markets for existing products. Diversification – This involves moving new products into new markets at the same time. Below are external web links provided by Portakabin in relation to their business activities. Subscribe to our newsletter for current business news including lesson plans and activity ideas.
If you learnt more about Achieving growth through product development from this Portakabin case study, why not share it with others?
In the late fifties a gentleman called Igor Ansoff created his now well known matrix, which highlighted four specific ways in which a business could develop strategies for growth. Ansoff’s matrix was first seen in the late fifties in the Harvard Business review and is regularly used today by marketers to provide a structured way of developing a range of strategic choices by which to grow a business. The matrix takes into account the ability to grow a business by leveraging new or existing products via new or existing markets. Typical ways of increasing market share would involve a mix of increased advertising, price discounting and using push (direct ) selling strategies into existing and clearly defined markets. For example water-soluble polymers (product) originally designed for rapid control of urine capture in babies nappies were marketed as an additive for potted plants that needed a constant source of water.
The motor industry is a classical example where product development is used to gain a competitive advantage in an existing market.
Product development involves an amount of risk due to the time and effort spent on developing a new product and marketing before you generate any sales and create revenue. For example the brewing industry and manufacturers of crisps are different markets but can be considered related (food Industry).
Market Diversification is the highest risk area in developing marketing strategies for growth. To be successful in this strategic growth arena you must show a real commitment to the program or you will have an increased chance of failure. The supermarket chains who went on a market diversification strategy also had the advantage of a large and mainly loyal existing customer base who went on to buy products that were outside of the supermarkets normal scope of supply.
If you need any help in developing growth in your business then contact us and we will be pleased to help you think and develop growth! Motivational Quotes The only man who never makes mistakes is the man who never does anything.

Also, is it usually considered normal to take two strategies in one plan, the market penetration of the launch and the second strategy of development of the website, or should these be seperate plans? So, extending product range is Product Development, top right while CRO is targeted at Existing Product, Existing Markets, so is Market Penetration. Whether you have separate plans depends on how you want to manage your marketing activities, but I think they’re distinct enough here that you will have one for new product launch and a separate ongoing plan for CRO.
Depending on the existing product mix and the way those offerings match with overall marketing objectives, a firm may pursue a variety of strategies when launching a new product. With these many aspects in mind, firms opt for one of four alternatives presented in a table known as the Ansoff Matrix. The Ansoff Matrix helps guide marketers in identifying effective strategies for new and existing offerings in their product mix. 90?? ?? ???? ?? ?? ???? ?? ??? ??? ?? ??? ??? ???? ?? (HBR) ? ???? ???? ???? ????? 50?? ??? ?? ?????? ??? ????? ??? ?????? ??? ??? ????. BCG????? ??? ??? ??? ?? ????? ??? ???? ??? ???? ?? ??? ??????? ????? ?? ??? ? ??? ??? ???, ??? ?? ????? ???? ???? ????? ??? ??? ??? ?????? ??? ??. In 1965 Henderson thought that to survive, much less grow, in a competitive landscape occupied by hundreds of larger and better-known consulting firms, a distinctive identity was needed, and pioneered "Business Strategy" as a special area of expertise for BCG.
In 1973 Bill Bain and others left BCG to form Bain & Company, and two years later Henderson arranged an employee stock ownership plan (ESOP), so that the employees could take the company independent from The Boston Safe Deposit and Trust Company. Product development involves thinking about how new products can meet customer needs more closely and outperform the products of competitors.
Market research and further segmentation of markets helps to identify new groups of customers. These are the activities that it has the most experience of and has a reputation for producing. In this situation there would be no change to product or the markets the organisations is targeting. It is also less risky in following a strategy of product development as opposed to market diversification. On the other hand should the brewing company decide to manufacture cars then this would be considered unrelated market diversification. Being able to easily access customers when following a market diversification strategy can significantly minimise the downside risk of failure.
You can choose to develop plans in all four strategic arenas or mix and match depending on your overall capability to manage a varied strategic growth plan. Whereby the company are developing their website to improve UX to convert more of the visitors. The professor provides an in-depth discussion about how and why a firm would use each strategy.

At some point he was said to have eclipsed McKinsey as the top recruiter at Harvard, aggressively wooing its best students with high salaries and the chance to make a difference in a cutting-edge firm.
Its purpose is to enrich the firm's strategic thinking by applying insights from a variety of academic disciplines to the strategic challenges facing both business and society. The purpose of this matrix is to help managers consider how to grow their business through existing or new products or in existing or new markets. The more an organisation moves away from what it has done in the past the more uncertainties are created. For Portakabin this is factory manufactured buildings as this is what its reputation has been built around. Ansoff suggests that to grow under these circumstances would require a market penetration strategy.
Kodak have, since the evolution of digital cameras, decided to stop making traditional film cameras. See at a glance whether or not you have  a few or several plans in place to grow your business. This is confusing as it isn't actually the product that is being developed maybe more the process, but would this be classed as product development in the ansoff matrix or is it still market penetration as the aim is to convert more of the same market? As you watch, be aware of cultural influences on strategies and on the professor's comments. This helps the company allocate resources and is used as an analytical tool in brand marketing, product management, strategic management and portfolio-analysis. He encouraged the young minds he hired to come up with innovative ideas that were meant to dazzle hardened corporate veterans. In this way he was helping managers to assess the differing degrees of risk associated with moving their organisation forward. To increase sales Portakabin decided that product development was the best marketing strategy to use. As an example supermarket chains in the UK and overseas have diversified into non food related products such as insurance and banking with a degree of success. Little to accept the challenge from the CEO of the Boston Safe Deposit and Trust Company to start a consulting arm for the bank. This strategy would allow Portakabin to provide more choices for its customers in order to meet their needs more closely. 6061??? ???? ?? ??? ??? ?????? ???? 7075 ??? ??? ?? ??????? ??? ??? ????? ?? ??? ???? ?? ???? ????.

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