Ansoff growth matrix example
CocaCola: Ansoff Matrix. A prime example of this was the launch of Cherry Coke in 1985 CocaColas first extension beyond its original recipe and a strategy prompted by smallscale competitors who had identified a profitable opportunity to add cherryflavoured syrup to CocaCola and resell it.Ansoff Matrix is a business strategic management tool that helps a business determine its product and market growth strategy. Ansoff matrix has four sections to show each impacting ways that businesses can grow. ansoff growth matrix example
A Few Examples of Ansoff Matrix. When marketers try to sell the existing product to the existing customers, they engage in penetration strategy. It can be achieved in multiple ways. For example, by changing pricing, by adding minor features (new and improved! ), changing the packaging (shampoo sachets), or highlighting alternative uses.
The Ansoff Matrix Market Penetration. Market penetration entails trying to sell your current product to the same people, but in larger quantities. For example, you may be more aggressive with your marketing but in the same target groups. You may also offer incentives for people to buy more of your product in exchange for a discount. A business can grow in terms of employees, customer base, international coverage, profits, but growth is most often determined in terms of revenues. There are different ways of growing a business. Igor Ansoff identified four strategies for growth and summarized them in the so called Ansoff Matrix.ansoff growth matrix example The Ansoff Matrix is a table that shows different growth strategies for companies. The combination of the two factors product and market and the states new and