Ansoff's Matrix
Here's what you need to know about the classic Ansoff Matrix model of business strategy.
#alevelbusiness #businessrevision #aqabusiness #tutor2ubusiness #alevels #edexcelbusiness #businessalevel
VIDEO CHAPTERS
0:00 Introduction
0:15 What is the Ansoff Matrix?
0:39 Ansoff Matrix - the Grid
4:08 Examples of Market Penetration Strategies
5:03 Evaluating Market Penetration
6:03 Examples of Product Development Strategies
6:35 Evaluating Product Development
7:53 Approaches to Market Development
8:53 Examples of Market Development Strategies
9:55 Evaluating Market Development
11:13 Examples of Diversification: Alphabet
11:48 Examples of Diversification: Samsung
12:03 Examples of Failed Diversification
12:53 Evaluating Diversification
VIDEO SUMMARY
This video is about a business model called the Ansoff Matrix. The Ansoff Matrix is a framework that helps businesses decide their growth strategy. The video explains the four options of the Ansoff Matrix and the level of risk associated with each option.
The four options are:
Market Penetration: This is the least risky option and involves selling existing products to existing markets. Businesses can use this strategy by opening new locations or increasing their marketing efforts.
Product Development: This option involves introducing new products to existing markets. This can be a good way to grow a business if the new products are appealing to the existing customer base.
Market Development: This option involves selling existing products to new markets. This could involve entering new geographic markets or targeting new customer segments.
Diversification: This is the riskiest option and involves selling new products to new markets. This can be a good way to grow a business if done correctly, but it is also the most likely option to fail.
The video mentions that the Ansoff Matrix is a good model to get started with, but it is important to understand the risks involved in each option before making a decision.
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2024 exams anyone?!?!
Well explained.
I will binge watch everything from the playlist before my exam...so helpful!!! Thank you
@raisofficial3838
3 жыл бұрын
That's what im doing today lol Got a levels tomorrow
Very informative yet concise!
@tutor2u-official
Ай бұрын
Glad you liked it
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@navinduharishchandra8654
6 жыл бұрын
already done! helpful video! thank you!
@mitash2009
4 жыл бұрын
The spelling of "INCREASING" ON "Y" AXIS NEED TO BE CORRECTED
Thanks for the video. Your clear explanations make me wonder how the hell some lecturers at uni managed to get that job in the first place
Great video man, you explained it better than my shitty lecturer.
@amhb2963
7 жыл бұрын
Kevin O'Leary haha
@nursaienah7547
7 жыл бұрын
Kevin O'Leary better than mine as well
I love your lessons, it has been very useful for me! Thank you very much.
Really good summary of the Ansoff matrix. Thank you!
Brilliant video, tutor2u always provide high quality materials that help students much more than anyone else
@tutor2u-official
6 жыл бұрын
Thanks Jamie - lovely feedback - much appreciated!
Great explanation! So helpful! THANK you so much!!!!!
thank you so much for sharing this useful data! Greatly appreciated.
This is a very informative well explained video. Thank You.
Thank you. Very comprehensive.
Thank you so helpful
Ansoff Matrix for A Level? I'm learning this at degree xD
Hi! Thank you from Ukraine for you fantastic lesson! I`ve understood everything you explained, thank you
@tutor2u-official
3 жыл бұрын
Glad it was helpful!
Resourceful insight. Thank you.
Clearly communicated and well explained. Thanks bro
This is good way to plan the business expansion. Supply chain can be used for increasing sales by adding new products and that also market penetration only
Thank you for your good and nice lecture.. it's hepl me so much
very well explained, thank you!
Great video!
good video, great before my a level exam in three hours
Very good info-thanks for sharing!
I will pass my exams because of this since I didn't understand it before. Thank you for the information.
Thanks a lot. I have an exam in business strategy tomorrow, and maybe it doesn´t go to shit after watching your videos
Wonderful Simpel and quite informative
great explanation.
Very good explanation sir😊🙏🏾
great video. understand now.
Fantastic video. Thanks a lot!
best explanation
Thank you, I understand it way better now.
@tutor2u-official
3 жыл бұрын
Thanks Natalie, good luck with your studies!
Thank you so much. Your insights are very useful for my comprehensive exams.😊😊
@tutor2u-official
2 жыл бұрын
Glad to hear that!
Awesome Video. The best explanation. Thank youuuu :) helped majorly when studying this topic. Definitely going to watch more Vids super easy to understand.
@tutor2u-official
3 жыл бұрын
Awesome, thank you!
Better understanding
You got one more sub here great work my friend.
nice
great explanation
great video bro. explained very well
@tutor2u-official
2 жыл бұрын
Thanks!
THIS! is where the real college tutorials are held LOL
Great video, seriously.
@tutor2u-official
2 жыл бұрын
Glad it was helpful!
Thank you! It was really helpful.
@tutor2u-official
2 жыл бұрын
Glad it helped! {jim]
there is a supermarket chain and it intends to introduce its own bakery to its outlets stopping outsources. where does this fall of the four options? please explain.
Dear Friends, I have a question: When creating Strategic Business Units (SBU), should they examine the market size, size and complexity of the company?. Could you help?. Thank you.
With Amazon opening stores with no checkouts, what part of Ansoff's Matrix would this come under?
I got business p3 tomorrow 😭 its so helpful!!
@tutor2u-official
2 жыл бұрын
You can do it!
You are a God sent for a business student. I have exams next week.
@bubblegumprincess7660
6 жыл бұрын
The Elite Killa How'd they go?
@bubblegumprincess7660
6 жыл бұрын
The Elite Killa Awesome
@bubblegumprincess7660
6 жыл бұрын
The Elite Killa Yeah, doing fasttrack? Do you have any tips for good grades and answering questions? Or any resources that show this?
@bubblegumprincess7660
6 жыл бұрын
The Elite Killa The A level.. Is normally 2years.. But I'm doing it in a year
@bubblegumprincess7660
6 жыл бұрын
The Elite Killa Same! Year 13 I'm doing Edexcel.. You?
Could it be argued entering new regional markets within a country (UK) is a form of Market Development rather than Market Penetration?
Thnx
@tutor2u-official
2 жыл бұрын
No problem
Can i query you about how you said diversification is the highest risk? I'd personally argue that is not the case for large, established businesses: this is because i'd argue that relying on multiple products and multiple markets can make a business much more secure in the long run due to the spreading of where income is coming from and not being reliant on a singular market. I would say diversification spreads risk which intern creates stability. If the business has the resources to diversify it absolutely should.
@tutor2u-official
6 жыл бұрын
Ansoff identified diversification as the highest risk strategy, but that is not to say it can't be successful, particularly if, as you describe, it is related to the existing activities and capabilities of the business.
Can we say that loyalty programs are a mode of Market Penetration?
@tutor2u-official
6 жыл бұрын
Absolutely - aiming to sell more existing products to existing customers!
Great
increasinf risk
There is an spelling error in the first slide., i.e increasing
@tutor2u-official
2 жыл бұрын
Great spot!
So am I right in thinking E-commerce is a way of market penetration and market development?
@tutor2u-official
2 жыл бұрын
E-commerce can support any of Ansoff's four strategies. E-commerce is more about marketing mix rather than a specific marketing strategy. For example, lots of businesses use e-commerce to support a strategy of market penetration.
여기서 삼성이나오다니 주모..... 셔터닫어