Below are the four descriptions;
Market Penetration is an existing product to the existing customers. It is increasing revenue, through different ways. For example, promoting the product, re packaging the items, repositioning the brand, price drops and much more. But the product is not altered and do not seek any new customers. •Market Development
Market development is marketing the same product to a different customer. This means exporting the product abroad or moving it to a new region. You could also include a new distribution channel i.e. selling a product to large supermarket, whereas before you only sold your product to a small shop. •Product Development
This is a new product marketed to the existing customers. This is where a new product is developed to replace an existing one, for example the IPhone 4s on and IPad 2. Also a new range of flavours of drink or food, Walkers crisps are a good example of this. •Diversification
This is a new product aimed at new customers. There are two types of diversification. One where there is a new product aimed at new customers within the same brand or company. The other diversification is where the company goes into a completely different market from which they were trading in before (manufacturing video games- selling cakes). Tesco’s the large supermarket chain adopts the Ansoff technique and they publish the on their website. •Market Penetration – Tesco decided to open their larger stores on a 24/7 basis. This would help them to gain customers who cannot shop during normal hours. •Market development – Tesco’s knew that the daily commuter could not travel on the outside of town to buy their lunch’s everyday so they moved into the smaller Tesco’s. Such as Tesco metro and express. These are smaller stores that can be based right in the centre of cities and towns. •Product...