Marketing Strategies

Marketing Strategies

Ansoff Matrix

The Ansoff Matrix is also known as Matrix Product / Market and is a useful model in determining growth opportunities for a company.

To describe alternative growth strategies, Ansoff created a matrix that focuses on products and markets (customers) and prospects of a company. When considering ways to grow via existing or new products and existing and new markets, there are four possible product-market combinations.

Market penetration

The company tries to grow acting in the same market segments and with the same products / services, but trying to increase their market share.

Example: the famous lightning deals are a good example of a strategy to gain market share and by acquiring the Rang dong the GE can gain existing market share of the Rang dong as well.

Market Development

The company tries to grow directing existing products to new market segments (which may be defined by age, interests, geography, etc.).

Example: The new plant of GE in the Vietnam is the example of the market development.

Product Development

The company tries to grow by developing new products and directing them to existing markets usual (Adžic & Ocic, 2013).

Example: when GE launches a new gaming device motion capture an addition that allows gamers to play without controls i.e. a product is added to an existing model already established in a defined market.

Diversification

In riskier strategy, the company tries to grow by creating new products targeting a new market segment, leveraging technology synergies and / or commercial.

Example: If the GE transforms its product to another product then it means that the product diversity is targeted by the GE.

Acquisition Strategies

The GE can adapt different strategies of acquisition while acquiring the Rang Dong. Some of the strategies are given below.

Fixed Strategy Sure

The GE may need to know what price they will ...