{"id":3970,"date":"2014-05-08T18:21:23","date_gmt":"2014-05-08T18:21:23","guid":{"rendered":"http:\/\/www.marketingteacher.com\/ansoffs-matrix-planning-for-growth\/"},"modified":"2016-03-24T22:29:24","modified_gmt":"2016-03-24T22:29:24","slug":"ansoffs-matrix-planning-for-growth","status":"publish","type":"post","link":"https:\/\/marketingteacher.com\/staging\/5483\/ansoffs-matrix-planning-for-growth\/","title":{"rendered":"Ansoff&#8217;s Matrix &#8211; Planning for Growth"},"content":{"rendered":"<br \/>\n<h1>Ansoff&#8217;s Matrix &#8211; Planning for Growth<\/h1>\n<ul class=\"lessonlinks\">\n<li class=\"lesson active\"><a href=\"https:\/\/marketingteacher.com\/staging\/5483ansoffs-matrix-planning-for-growth\/\">Lesson<\/a><\/li>\n<li class=\"exercise\"><a href=\"https:\/\/marketingteacher.com\/staging\/5483exercise-ansoffs-matrix-planning-for-growth\/\">Exercise<\/a><\/li>\n<li class=\"answer\"><a href=\"https:\/\/marketingteacher.com\/staging\/5483answer-ansoffs-matrix-planning-for-growth\/\">Answer<\/a><\/li>\n<\/ul>\n<p>This well known marketing tool was first published in the Harvard   Business Review (1957)   in an article called &#8216;Strategies for Diversification&#8217;. It is used by   marketers who have objectives for growth.   Ansoff&#8217;s matrix offers strategic choices to achieve the objectives.   There are four main categories for selection.<\/p>\n<h2>Market Penetration<\/h2>\n<p>Here we market our existing products to our existing customers. This   means increasing our revenue by, for example, promoting the product,   repositioning the brand, and so on. However, the product is not altered   and we do not seek any new customers.<\/p>\n<h2>Market Development<\/h2>\n<p>Here we market our existing product range in a new market.   This means that the product remains the same, but it is marketed to a   new audience.   Exporting the product, or marketing it in a new region, are examples of   market development.<\/p>\n<p>\t\t\t\t\t<\/br><\/p>\n<h2>Product Development<\/h2>\n<p>This is a new product to be marketed to our existing customers.   Here we develop and innovate new product offerings to replace existing   ones.   Such products are then marketed to our existing customers. This often   happens with the   auto markets where existing models are updated or replaced and then   marketed to existing customers.<\/p>\n<p>\t\t\t\t\t\t<img decoding=\"async\" loading=\"lazy\" src=\"\/image\/content\/Ansoff_lesson.gif\" alt=\"Ansoff's Product\/Market Mix\" class=\"large yellow aligncenter\" \/><\/p>\n<h2>Diversification<\/h2>\n<p>This is where we market completely new products to new customers.   There are two types of diversification, namely related and unrelated   diversification.   Related diversification means that we remain in a market or industry   with which we are familiar.   For example, a soup manufacturer diversifies into cake manufacture (i.e.   the food industry).   Unrelated diversification is where we have no previous industry nor   market experience.   For example a soup manufacturer invests in the rail business. <\/p>\n<p>Ansoff&#8217;s matrix is one of the most well know frameworks for deciding   upon strategies for growth.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ansoff&#8217;s matrix offers strategic choices to marketing managers. Ansoff&#8217;s has four main<br \/>\ncategories.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-3970","post","type-post","status-publish","format-standard","hentry","category-strategy-tools"],"_links":{"self":[{"href":"https:\/\/marketingteacher.com\/staging\/5483\/wp-json\/wp\/v2\/posts\/3970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/marketingteacher.com\/staging\/5483\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marketingteacher.com\/staging\/5483\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marketingteacher.com\/staging\/5483\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/marketingteacher.com\/staging\/5483\/wp-json\/wp\/v2\/comments?post=3970"}],"version-history":[{"count":1,"href":"https:\/\/marketingteacher.com\/staging\/5483\/wp-json\/wp\/v2\/posts\/3970\/revisions"}],"predecessor-version":[{"id":6039,"href":"https:\/\/marketingteacher.com\/staging\/5483\/wp-json\/wp\/v2\/posts\/3970\/revisions\/6039"}],"wp:attachment":[{"href":"https:\/\/marketingteacher.com\/staging\/5483\/wp-json\/wp\/v2\/media?parent=3970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marketingteacher.com\/staging\/5483\/wp-json\/wp\/v2\/categories?post=3970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marketingteacher.com\/staging\/5483\/wp-json\/wp\/v2\/tags?post=3970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}