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Ansoffs Matrix - Research Proposal Example

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This work called "Ansoff’s Matrix" describes four different strategies known as Ansoff’s Matrix. The author takes into account the evaluation of alternative growth paths available to organizations, the main principles of these strategies, pros, and cons. From this work, it is clear about the business environment faced by Nokia in Europe. …
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Ansoffs Matrix
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Download file to see previous pages It is quite obvious that the strategies differ in different situations. If a company wishes to make its presence felt in an existing market with existing products it needs to adopt strategies that would help it in penetrating the market. But if the company is attempting to introduce a new product in an existing market, it needs to concentrate more on strategies related to product development as that would help it in creating a firmer hold on the existing market. Similarly, if the company is attempting to introduce existing products in new markets, it must concentrate on strategies that are closely associated with market development. Whereas, if the company has grand plans for entering new markets with new products it must embark on a path of diversification and devise relevant strategies.
This strategy attempts to increase the market share of an existing product in an existing market and is generally adopted by firms that want to increase their turnover without altering their product portfolios.
As the main emphasis is on increasing the turnover, management should concentrate on increasing sales personnel while offering attractive discounts and bargain sales that are made to appear genuinely appealing through aggressive sales promotion and advertising. However, there is no assurance that such moves would pay dividends and a firm should adopt such strategies only if it feels the market has not matured or its market share is steadily decreasing due to the onslaught of rivals.
There is bound to be a lot of investment in advertising and promotion and per-unit revenue gets reduced due to discounts. So, the sales volumes must be sufficiently large to offset these reductions. But that can never be guaranteed. However, if the venture becomes successful, the firm can earn a substantial revenue.
When a firm tries to discover new markets for an existing product it is termed as a market development strategy. It is obvious that a new market would result in an additional turnover and consequent bolstering of the bottom-line. ...Download file to see next pages Read More
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Ansoffs Matrix Research Proposal Example | Topics and Well Written Essays - 2500 Words.
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