Essay about Ansoff Matrix †Product Market Grid - 854 Words

Introduction to the Ansoff matrix The Ansoff product/ market matrix is a tool that helps businesses decide their product and market growth strategy. Ansoff’s product/ market matrix suggests that a business’ attempts to grow depend on whether it markets new or existing products in new or existing markets. The traditional four box grid or matrix Ansoff model Alternative Ansoff style matrix A revised version of the Ansoff matrix featuring a 3Ãâ€"3 or nine box grid or matrix. History – The Product / Market Matrix Igor Ansoff created the Product / Market diagram in 1957 as a method to classify options for business expansion. The simplisity of this model is that the four strategic options defined can be generically applied to any†¦show more content†¦For example by introducing loyalty schemes. A market penetration marketing strategy is very much about â€Å"business as usual†. The business is focusing on markets and products it knows well. It is likely to have good information on competitors and on customer needs. It is unlikely, therefore, that this strategy will require much investment in new market research. Market Development (new markets, existing products): 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. Market development is the name given to a growth strategy where the business seeks to sell its existing products into new markets. There are many possible ways of approaching this strategy, including: ââ€"  New geographical markets; for example exporting the product to a new country ââ€"  New product dimensions or packaging: for example ââ€"  New distribution channels ââ€"  Different pricing policies to attract different customers or create new market segments Product Development (existing markets, new products): 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 modelsShow MoreRelatedDesigning A Product s Portfolio Essay997 Words   |  4 Pagesemulating its production and design, and there is a need to keep up with demand and expand the product s reach, as well as scope and audience, to make economic sense. Marketing strategies are diverse and should be embraced by different entities for the purpose of ensuring that their commodities remain competitive in the market. Designing a product s portfolio helps find out more business opportunities and products that the organization should put into consideration in the future. The growth of an organizationsRead MoreEcco2521 Words   |  11 PagesStates, Germany and Japan had been the main markets, where ECCO exported about 90% of their producti on. Ever since then, like most other large organisations, the company has been seeking market opportunities and working persistently to create new market, especially in Asia, Central and Eastern Europe where they could target countries that were probably still to be explored. The Ansoff Matrix The Ansoff Matrix also known as the Product /Market Expansion Grid is a useful devise that would assist inRead MoreGM SWOT Essay2148 Words   |  9 Pagesmillion cars and trucks, about 15 percent of the global vehicle market. GMs global headquarters are at the GM Renaissance Center in Detroit. More information on GM and its products can be found on the companys corporate website at http://www.gm.com/ The GM Group of global partners includes Fiat Auto SpA of Italy, Fuji Heavy Industries Ltd., Isuzu Motors Ltd. and Suzuki Motor Corp. of Japan, which are involved in various product, powertrain and purchasing collaborations. 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The planner must recognize how to balance the current products against possible policies for future development and their likely implications in terms of cash flow, market share, return on capital employed and other key components of company objectives. A successful behavior trait taking hold for successful companies is toRead MoreAmul Ice Cream1721 Words   |  7 Pagesthe market with its unique and innovative marketing strategies. It gave the entire industry a unique dimension. The success of Amul can be attributed to its distinctive planning of marketing mix and providing satisfaction to consumer needs. The analysis of this case will highlight the key marketing strategies adopted by Amul to become a market leader. 4 P’s of Marketing Mix: Amul brought in many changes in its 4 P’s of marketing mix, which helped it carve a niche for itself in the market. Read MoreLafarge Tarmac Final 1 5924 Words   |  24 PagesOne 2 1.1 Strategic context of Lafarge Tarmac 2 Introduction 2 Visions, Objectives and Goals of the company 2 1.2 Issues in Strategic Planning at Lafarge Tarmac 3 1.3 Planning Techniques in context with Lafarge Tarmac 4 Directional Policy Matrix 4 Space Matrix 5 Task 6 2.1 Organizational Audit for Lafarge Tarmac 6 Benchmarking Audit 6 SWOT Analysis 6 Value Chain Analysis 6 Scenario Planning 7 Strategic Positioning of Lafarge Tarmac 7 2.2 Environmental Audit for Lafarge Tarmac 8 PESTLE 8 Porter’sRead MoreMarketing Strategy For Kodak Is Market Penetration2853 Words   |  12 PagesAnsoff Model is also defined by amount of investment and risk: Strategy Investments Probable success Market Penetration Basic 50% Product development Multiply 8 times 33% Market development Multiply 4 times 20% Diversification Multiply 12-16 times 5% Ansoff Model was invented a while ago, but still is quite useful to provide number of opportunities, relevant in most markets. Surely, the position of the company and opportunities need to be researched in details before any decision is taken. TheRead MoreStrategic Management Ikea Case Study6700 Words   |  27 PagesStrategic Management IKEA Case Study Table of Contents Introduction Page 3 IKEA Strategy Description: Porter’s Generic Strategy Options Page 4 IKEA Strategy Description: Ansoff Matrix Page 7 IKEA Strategy Evaluation: Suitability Page 9 IKEA Strategy Evaluation: Porter’s 5 Forces Page 9 IKEA Strategy Evaluation: Capabilities Page 11 IKEA Strategy Evaluation: SWOT-Analysis Page 12 Stakeholder Expectations: Page 14 Conclusion: Page 15 References:Read MoreStrategic Planning Theories5409 Words   |  22 Pagesreview will review theories from Igor Ansoff, Henry Mintzberg, Michael Porter, and Kenichi Ohmae. The purpose will be to gain a better understanding of how these theories shape organizational performance. An analysis will be conducted to evaluate the practice of and the future direction of these theories. The choice to review these four theorists over all of the others is because of their legacy and robust contributions to the field of strategic management. Ansoff was one of the earliest writers on

Net Present Value and Washington State University - 740 Words

Washington State University Finance 325 Practice Problems 1. What is the net present value of a project with the following cash flows and a required return of 12 percent? Year 0 1 2 3 Cash Flow -$28,900 $12,450 $19,630 $ 2,750 2. What is the net present value of a project that has an initial cash outflow of $12,670 and the following cash inflows? The required return is 11.5 percent. Year 1 2 3 4 Cash Inflows $4,375 $ 0 $8,750 $4,100 3. A project will produce cash inflows of $1,750 a year for four years. The project initially costs $10,600 to get started. In year five, the project will be closed and as a result should produce a cash inflow of $8,500. What is the net present value of this project if the required rate of†¦show more content†¦The equipment will be depreciated straight-line to a zero book value over the life of the project. The equipment will be salvaged at the end of the project creating a $25,000 after-tax cash flow. 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In â€Å"Hearing†). To an extreme extent, their units were kept secret, until as recent as 1989 (Meadows, â€Å"Honoring†). Because of all this secrecy, the Navajo and many Native American code talkers did not receiveRead MoreCollege Can Be For All1932 Words   |  8 PagesCollege can be for All Each year, millions of students face the hardest question of their lives, college or not. Unfortunately, due to the cost of overall cost, many students and their families struggle with this decision. In the United States, college tuition and fees have raised considerable over the last decade and show no sign of stopping. Taking out loans larger than most will every pay for a car, students are accumulating sizeable amounts of debt. 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Nature of Probability and Statistics free essay sample

Descriptive statistics consists of the collection, organization, summarization, and presentation of data. Inferential statistics consists of generalizing from samples to populations, performing estimations hypothesis testing, determining relationships among variables, and making predictions. (Probability, Hypothesis testing, relationships between variables, predictions) Probability is the chance of an event occurring. A population consists of all subjects that are being studied. A sample is a group of subjects selected from a population. Variables and Types of Data In order to gain knowledge about seemingly haphazard events, statisticians collect information for variables that describe the events. A variable is a characteristic or attribute that can assume different values. Data are the values that variables can assume. A data set is a collection of data values. Each value in the data set is called a data value or a datum. Random variables have values that are determined by chance. 1 M227 Chapter 1 Nature of Probability and Statistics Qualitative variables can be placed into distinct categories according to some characteristic or attribute. We will write a custom essay sample on Nature of Probability and Statistics or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Quantitative variables are numerical in nature and can be ordered or ranked. Quantitative variables can be further classified into two groups. o Discrete variables assume values that can be counted. o Continuous variables can assume all values between any two specific values. (Discuss boundaries: ex. recorded height of 73 has boundary of 72. 5 ? x 73. 5 ) Levels of Measurement: Variables are classified by how are organized, counted, or measured: Nominal—classifies data into mutually exclusive (nonoverlapping), exhausting categories in which no order or ranking can be imposed on the data. Ordinal—classifies data into categories that can be ranked; however, precise differences between the ranks do not exist. Interval—ranks data, and precise differences between units of measure do exist; however, there is no meaningful zero. Ratio—possesses all the characteristics of interval measurement, and there exists a true zero. Data Collection and Sampling Techniques Surveys are the most common method of collecting data. Three methods of surveying are: o Telephone surveys o Mailed questionnaire surveys o Personal interviews Direct Observations or surveying records Methods to obtain unbiased samples: o Random samples are selected using chance methods or random methods. o Systematic samples are obtained by numbering each subject of the population and then selecting every kth number. o Stratified samples are obtained by dividing the population into groups according to some characteristic that is important to the study, then sampling from each group. Cluster samples are obtained by using intact groups called clusters. Two main ways to classify statistical studies: In an observational study, the researcher merely observes what is happening or what has happened in the past and tries to draw conclusions based on these observations. In an experimental study, the researcher manipulates one of the variables and tries to determine how the manipulation influ ences other variables. 2 M227 Chapter 1 Nature of Probability and Statistics Statistical studies usually include one or more independent variables and one dependent variable. The independent variable in an axperimental study is the one that is being manipulated by the researcher. The independent variable is also called the explanatory variable. The rsultant variable is called the dependent variable or the random outcome. Uses and Misuses of Statistics Detached statistics Implied connections Misleading graphs Faulty survey questions Computers and Calculators In the past, statistical calculations were done with pencil and paper. However, with the advent of calculators, numerical computations became easier. Excel, MINITAB, and the TI-83 graphing calculator can be used to perform statistical computations.