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Examples Of Ansoff Growth Matrix

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What is Ansoff”s Matrix?

The Ansoff Growth matrix is another strategic marketing planning tool that helps a business determine its product and market growth strategy. These strategies that seek growth are as follows;
1. Market penetration: by pushing existing products in their current market segments.
2. Market development: by developing new markets for the existing products.
3. Product development: by developing new products for the existing markets.
4. Diversification: by developing new products for new markets.
Named after its inventor, the father of strategic management, Igor Ansoff (1941- ), and first published in 1957 in Harvard business review. (Riley, 2017) Retrieved from: (Riley, 2017)
Market penetration
Market penetration …show more content…

moving from selling via retail to selling using e-commerce and mail order)
• Different pricing policies to attract different customers or create new market segments
For example; in 2007, the Hilton Hotel became one of the biggest hospitality companies in the world with around 3,500 hotels across 80 countries. The Company gives exceptional services and facilities to its guests. Apart from it, they also give various rewards and benefits to the members of the hotels. All these services are carefully implemented in order to attract and retain customers. The product range includes honeymoon packages, bars, conference facilities and many more room amenities that are provided. (Marketing Of Hilton Hotel Corporation Marketing Essay, 2013)
Namibia also host a Hilton hotel in Central Business District of the capital city Windhoek. Hilton Hotels acts as cost differentiator in the hospitality industry. The hotel has very competitive prices compared to its competitors and also gives attractive facilities. The rates of room include all the applicable taxes and are per night and also vary according to …show more content…

Apart from it, building an effective brand image and increasing the communication with the customers is also a part of its marketing strategies. (Marketing Of Hilton Hotel Corporation Marketing Essay, 2013)

Diversification
This strategy involves the development of new products and selling them to new markets. In other words, the destination or organisation is moving away from the core business. This is an inherently more risk strategy because the business is moving into markets in which it has little or no experience. For a business to adopt a diversification strategy, therefore, it must have a clear idea about what it expects to gain from the strategy and an honest assessment of the risks. However, for the right balance between risk and reward, a marketing strategy of diversification can be highly rewarding. (Riley, 2017)
Hilton Hotel will not have difficulties in penetrating to new markets and new products as they are already well established and popular in the hospitality sector all across the globe. Should they decide to venture into a different market their loyal customer base will still follow

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