Strategy Flashcards
Swot anayalsis?
Strenght Weakness Opportunity Threats
Looks at internal ( SW) and external (OT) o help make straegtys and descision plans.
What are porters 5 forces
- Buyer power- small market= customers decide price
- Supplier power= Lots of firms means they set prices as they have lots of supplier options
3.Threat of new entrys- if firm makes products this encouarages new firms to join and increase competiton
4.Threat of subsitute product- food= lots of subsitutes plane = little subsitutes
5.Competitive rivalry within an industry- competition of firms
What is ansoff matrix and its 4 components Less risky to most risky
Shows options to business to help them grow
1.Market penetration
2.Product developement
3.Market development
4.Diversification
What is market penetration
Selling an exsting market in an exsting market. Increase marketing to increase market share, drive out competition and increase brand image
What is product developement
New product in the same market for example vegan burger
What is market developement
Same product in a new market. Selling abroad, or online, offering delivery.
What is diversification
New product in new market. Greggs selling shoes.