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The Ansoff matrix is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future business growth. [1] It is named after Russian American Igor Ansoff , an applied mathematician and business manager, who created the concept.
Ansoff pointed out that a diversification strategy stands apart from the other three strategies. Whereas, the first three strategies are usually pursued with the same technical, financial, and merchandising resources used for the original product line, the diversification usually requires a company to acquire new skills and knowledge in product development as well as new insights into market ...
Since the market penetration strategy is conducted based on established capabilities and characteristics of the business and the market, therefore it contains the lowest risk out of the four strategies in Ansoff's product-market growth matrix. [11] Hence, a business should give special consideration to conducts it, since this strategy is ...
The BCG matrix is much simpler and the factors needed to construct it are accessed more easily and quickly. It takes into account a wide range of factors when determining market attractiveness and business strengths, which is replaced by market share and market growth in the BCG matrix.
The growth–share matrix [2] (also known as the product portfolio matrix, [3] Boston Box, BCG-matrix, Boston matrix, Boston Consulting Group portfolio analysis and portfolio diagram) is a matrix used to help corporations to analyze their business units, that is, their product lines.
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
A strategic business unit (SBU) in business strategic management, is a profit center which focuses on product offering and market segment. SBUs typically have a discrete marketing plan , analysis of competition, and marketing campaign , even though they may be part of a larger business entity.
The benefits of high market share naturally led to an interest in growth strategies. The relative advantages of horizontal integration, vertical integration, diversification, franchises, mergers and acquisitions, joint ventures and organic growth were discussed. Other research indicated that a low market share strategy could still be very ...