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Ansoff's Matrix

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In the business world, someone say strategy is destiny of firms and a successful strategy will help the firms to achieve a final target. However, design of strategy base on development of market and characteristic of product, in addition, strategy must be about the future, also it must be achievable and realistic. In the other words, a strategy plays the vital role in long-term actions and it is required to achieve the company goals or targets by Marcouse, Surridge and Gillespie, (2011) Therefore, the main purpose of this essay is that choice an appropriate strategy for a business. First, ansoff’s matrix will be used to analyses the strategies that a business can use to market its goods and services, then, the essay will explain how to select …show more content…

One type is market penetration and means that is the business focused on selling existing products in existing markets and Riley(2012) states that there are four opportunities to main objectives for market penetration, include: market share of products is recently remained or increased, primary dominance of existing markets, driving out competitors by restructure a mature market and growth usage by existing customers. Spencer (2013) claim that Market Penetration is the least implementation risk when a firm is concentrate on its existing products and markets, and So the firms should be able to use the existing resources and capabilities. However, Simister (2011 ) point out the weakness about the strategy that if the firms already hold a high market share, the increase opportunities is limited ,secondly, Positive market penetration strategy will be increase the competition in same industry, which could cause industry price war to damage the industry …show more content…

Firstly, the company can consider the strategy by ansoff’s matrix. Firstly, strategy of market penetration is lowest risk in ansoff’s matrix. Spencer(2013) states that “if the firm has a strong competitive advantage, or if the overall size of the market is growing or can be induced to grow”. Nevertheless, along with development of market, the company shoulders the risk that will increase, Khan(2013)notes that Market development strategy is a significantly higher risk than the market penetration strategy. If a company wants to acquire new customers and expand market share, it will need to adopt the market development strategy. In this strategy, the enterprise just understand its new customers and they 're selling its existing. Hence, The firms are required that products have core

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