ansoff matrix

Question 1

what are the 4 parts of Ansoff matrix

Answer 1

market penetration
new product development
market development
diversification

Question 2

market penetration

Answer 2

incnreasing your market share in existing amkret
e.g promotions, pricing strategies, advertising

Question 3

new product devlopment

Answer 3

selling new products in existing market

Question 4

makret development

Answer 4

selling existing products to new market

done through repositiong-where business focuses more on different segment of makret may need to research about their traget and how it can adpat its product

Question 5

disveristification

Answer 5

sellign new products to new market
most risky strategy

Question 6

adv of ansoff matrix

Answer 6

forcese managers to think about expected risks when moving in a certain direction

Question 7

dis of ansoff matrix

Answer 7

doesnt take into account of what businesses competitors are doing