Ansoff Matrix
Module:
Betriebswirtschaftliche und volkswirtschaftliche Grundlagen
Subject:
Einführung in die Betriebswirtschaftslehre
Semester:
1 semester, SS 2015
Module Leader:
Prof.Dr.Dirk Gunther Trost
Assignment title:
ANSOFF MATRIX
08/04/2015
Tanju Colak
AccountID:
70446465
1
Tanju Colak (70446465) – Betriebswirtschaftliche und volkswirtschaftliche Grundlagen
1. Introduction
In 2003, the author Lynch suggested that the Ansoff Matrix describes the market and product choices available to a company. In this context products may be determined as items sold to customers and markets as customers. In some cases, the Ansoff Matrix is also defined as the market and product matrix. With the help of this instrument, companies can also decrease the gap between where they may be without a change in strategy and where they aspire to be (Proctor, 1997).
The purpose of this paper is to analyse the important aspects of the Ansoff Matrix. In particular, the four most important strategic options included in the Ansoff Matrix will be discussed in association with the risks. The last chapter of this essay will present all gathered findings from previous chapters and finally this paper will be completed.
2. Main aspects of Ansoff analysis
Companies have to make corporate strategic decisions regarding the choices that are available to them. While making these decisions, they should mainly consider choices that could leverage their competitive advantage, such as ensuring growth (Lynch, 2009).
In other words, companies require product and marketing innovation in order to expand and grow. For this, the main objective is to determine different organisational strategies, based on the markets they target and products they offer to their customers (Ansoff,
1984).
In 1957, the author Igor Ansoff advised the Ansoff Matrix, which provides the basis for an organisation’s goal-setting process. The matrix enables companies to adapt their new or existing products into a new or existing
Betriebswirtschaftliche und volkswirtschaftliche Grundlagen
Subject:
Einführung in die Betriebswirtschaftslehre
Semester:
1 semester, SS 2015
Module Leader:
Prof.Dr.Dirk Gunther Trost
Assignment title:
ANSOFF MATRIX
08/04/2015
Tanju Colak
AccountID:
70446465
1
Tanju Colak (70446465) – Betriebswirtschaftliche und volkswirtschaftliche Grundlagen
1. Introduction
In 2003, the author Lynch suggested that the Ansoff Matrix describes the market and product choices available to a company. In this context products may be determined as items sold to customers and markets as customers. In some cases, the Ansoff Matrix is also defined as the market and product matrix. With the help of this instrument, companies can also decrease the gap between where they may be without a change in strategy and where they aspire to be (Proctor, 1997).
The purpose of this paper is to analyse the important aspects of the Ansoff Matrix. In particular, the four most important strategic options included in the Ansoff Matrix will be discussed in association with the risks. The last chapter of this essay will present all gathered findings from previous chapters and finally this paper will be completed.
2. Main aspects of Ansoff analysis
Companies have to make corporate strategic decisions regarding the choices that are available to them. While making these decisions, they should mainly consider choices that could leverage their competitive advantage, such as ensuring growth (Lynch, 2009).
In other words, companies require product and marketing innovation in order to expand and grow. For this, the main objective is to determine different organisational strategies, based on the markets they target and products they offer to their customers (Ansoff,
1984).
In 1957, the author Igor Ansoff advised the Ansoff Matrix, which provides the basis for an organisation’s goal-setting process. The matrix enables companies to adapt their new or existing products into a new or existing
References: Ansoff, I. H. (1957). Strategies for diversification. Harvard Business Review, Vol. 35, No. Ansoff, I. (1984). Implanting Strategic Management. London: Prentice Hall International. Ansoff, I. (1989). Corporate Strategy. rev. Edition, Penguin, Harmondsworth. Christensen, C. & Cook, S. & Hall, T. (2005). Marketing malpractice: The cause and the cure Lynch, R. (2003). Corporate Strategy. 3rd Edition, Prentice Hall Financial Times. Lynch, R. (2009). Strategic Management, 5th Edition, FT/Prentice Hall. Macmillan, H. & Tampoe, M. (2000). Strategic Management, Oxford University Press. Mercer, D. (1996). Marketing. 2nd Edition, Oxford: Blackwell Publishers Ltd. Pearson, G. (1999). Strategy in Action, Prentice Hall Financial Times. Proctor, T. (1997). Establishing a strategic direction: a review, Management Decision. Proctor, T. (2000), Strategic Marketing. London & New York: Routledge. Watts, G. & Cope, J. & Hulme, M. (1998). Ansoff 's Matrix, pain and gain: Growth strategies and adaptive learning among small food producers. International Journal of Entrepreneurial Behaviour & Research, Vol. 4, No. 2.