Work Essay

1404 Words 6 Pages
Group Script:
Ansoff's Matrix::
Introduction:
The founder of this theory is H. Igor Ansoff. Ansoff Matrix is a marketing planning tool, which allows businesses such as Sony and Cadbury to control its business growth, which can be established through products sold and the business market scheme. This can relatively be determined on the conditions of the products being sold; whether it is brand immaculate and weather the businesses market is brand new or it is ancient. The Ansoff Matrix has four alternatives of marketing strategies; Market Penetration, product development, market development and diversification http://www.ansoffmatrix.com/ Diversification

The last strategy is Diversification. This growth strategy involves an
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Another example is the easy jet which has diversified into car rentals, gyms, fast foods and hotels. Though diversification may be risky, with an equal balance between risk and reward, then the strategy can be highly rewarding. Another advantage of diversification is that in case one business suffers from adverse circumstances the other line of businesses may not be affected.

Product Development:

This is where a business develops a new product to sell to an existing customer. So for example once customers have bought your Sony PlayStation you might sell an expansion pack that offers more content. throughout the years Sony have developed their business by increasing the number of games product such as the new Ps4,Psp Vita,Ps4 and more this gave them a big increase in profit and attracting more new generation gamers over the years. Sony aim to save nearly £98 million bulk purchasing according to Nikkei. Sony’s new planned development aim to shortening the typical two new year development for new products by three-six months reported by nikkie as they have done with their various electronics products such as Sony DVD, Sony TV plasmas, Sony laptop and many more over the years, Sony have developed their products over the years to attract new customers and for the realisation of this they constantly upgrade their products and technologies every 2,3 years for example Sony released the

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