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Ansoff Matrix - Market Penetration
“Business as usual”.
Likely to have good information on competitors and on customer needs. Doesn’t require much investment in new market research.
What to do?
- Develop a new marketing strategy to encourage more people to choose your product, or to use more of it.
- Introduce a loyalty scheme.
- Launch price or other special offer promotions.
- Increase your sales force's activities.
- Use the Boston Matrix to decide which products warrant further investment, and which should be disregarded.
- Buy a competitor company (particularly in mature markets).
03/03/20
LO 2. To be able to apply the Ansoff Matrix (Product/Market Expansion Grid)
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