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IB Business

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IB Business & Management Ansoff and his Matrix Topic objectives Explain the value of Ansoff s matrix as a decision making tool. Apply the matrix growth strategies ... – PowerPoint PPT presentation

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Title: IB Business


1
IB Business Management
  • Ansoff and his Matrix

2
Topic objectives
  • Explain the value of Ansoffs matrix as a
    decision making tool.
  • Apply the matrix growth strategies to a given
    situation

3
First a little something to get you thinking
  • Some might say this is Liam Gallagher (former
    Oasis frontman) looking back in anger, but has he
    finally found something worth living for?
  • What Business Studies ideas can you get from the
    up and coming clip?

4
Is it my imagination or is this Business Studies?
  • Youll be mad for this one!
  • Warning Very Strong Language!

5
So what did you get?
  • Reasons for starting a business?
  • Marketing strategies?
  • Niche Vs Mass?
  • Diversification?
  • Which leads on to Ansoff and his matrix

6
What is it?
  • A tool to help a business decide their product
    and growth strategy
  • N.B. It will not make the decision for you!

7
2 sets of categories 4 options
  • We look at either new or existing products
  • and
  • New or existing markets
  • He then gave a name to each of the four options
    this threw up.

8
Ansoffs Matrix
9
Market Penetration
  • 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.
  • Often a low risk, low return option.

10
Market Development
  • 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.
  • Medium risk/return

11
Product Development
  • 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 cars where existing
    models are updated or replaced and then marketed
    to existing customers.
  • Medium risk/return

12
Diversification
  • This is where we market completely new products
    to new customers.
  • This can be broken down into two further subsets

13
Diversification related
  • 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).
  • The most risky option

14
Diversification Unrelated
  • Unrelated diversification is where we have no
    previous industry nor market experience.
  • For example a music company invests in the rail
    business.

15
How would you use it?
  • It helps companies put the options in the right
    box and then focus on what is the best for them
  • Try not to look at it as 4 categories, but as
    scale.
  • For example, it is never going to be exactly the
    same customers

16
Quick test to see if youre awake
  • If you were Microsoft, where would you put the
    x-box in the matrix

17
Quick test to see if you are awake
  • If you were Apple, where would you put the
    i-phone?

18
School lunches
  • School lunches provided to the whole community
  • Nice example of?
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