This website uses cookies to ensure you have the best experience. Learn more

Ansoff’s Model For Strategic Techniques Essay

618 words - 2 pages

Question 3
Ansoff’s model is one of the strategic techniques that an organisation can use to achieve a competitive advantage. Analyse this technique.

Ansoff’s Matrix
Ansoff’s Matrix was designed to show how the markets and their products can be manipulated to the advantage of the organisation. It has four sections that are depicted as, Market Penetration, Product Development, Market Development and Diversification.

Market Penetration:
This method uses the existing products and increasing existing market shares while using the existing customers. This means that you basically use what you’ve got and try to make them better or re-sellable. Doing this can give the organisations’ reputation a bit of an enhancement to differentiate it from their competitors. In the tourism and hospitality industry certain incentives can be given to regular guests, such as frequent flyer miles or season tickets to a recreational park or hot spring. This can also mean that the existing core competencies have to be enhanced as well for a better competitive advantage.

Product Development:
This method involves new products that are produced for the existing market of the organisation. The whole point of this method is to gather new customers, keep the regular customers and increase the market share of the organisation. In the hospitality industry there are numerous examples, for instance, a certain travel agent or tour operator has only been selling packages made up of the airline, accommodation and transport, now decides to add something new to its selection, like a health club or spa.

Market Development:
Finding new markets for existing products can sometimes be a little bit tricky. Most common features of market development are globalization and internationalisation. Opportunities for market growth will arise when the organisation effects market development strategy.

Three types of Diversification: Simply said, new market, new product. There are some strategies of diversification that include alliances, licensing of new techniques, introducing a new product developed by another organisation...

Find Another Essay On Ansoff’s Model for Strategic Techniques

Strategic Planning Paper

1115 words - 4 pages transformed from a point of military maneuvering to one that aim’s to achieve and gives a structured framework to reach a competitive advantage.      Taking its name and roots from the military model, early models of formal strategic planning "reflected the hierarchical values and linear systems of traditional organizations. Undertaken by planning functions at the top of the organization, its structure was highly vertical


957 words - 4 pages model of strategic entrepreneurship The task of the traditional enterprise is creating new value and creating profits for entrepreneurs. Individual enterprise deals with the management of small and medium enterprises. Traditional management has the task of managing large enterprises, in order to increase business performance and generate profit for shareholders. Social Entrepreneurship includes entrepreneurial activities, so it can create

W.L. Gore & Associates Marketing Analysis

1487 words - 6 pages & Associates has developed the following tools and techniques for its strategic marketing plan. SWOT Matrix The SWOT matrix is an important tool and technique used by the company in analyzing its strengths and weaknesses in the market. Also, this matrix indicates the opportunities and threats that the company likely to come across in the market due to changes in the market scenario and circumstances. Tutur2U Website (2010) takes SWOT analysis

Strategic Quality Management and Customer Satisfaction Paper

1248 words - 5 pages discuss how quality is linked to Huffman Trucking Co.'s strategic plan objectives, analyze the process improvement plan that the Huffman currently uses and give examples of the tools and techniques used to measure quality. Lastly, this paper will show who has the ultimate responsibility for quality assurance, and the extent to which the organization's process improvement plan is related to their strategic plan.Huffman Trucking Company was


1580 words - 7 pages participating in session. Reframing is also a technique used in structural therapy for treatment. This technique allows the clients to pinpoint the problem and establish ideas on how to improve the problem. Therapist overlooks and revises the suggestions of the family to make the idea more effective. Strategic therapy treatment involves directive techniques. This technique does not focus on the past, similar to structural enactment technique

Business Recommedations for Tesco

3243 words - 13 pages deploy and combine resources effectively in order to achieve strategic capabilities. Threshold capabilities represent what a company need to do in order to survive in its industry; they are directly linked to the critical success of actors. They aim to Implement a specific strategy and respond to customer needs by using some resources. For example, supermarkets such as Tesco and Sainsbury’s have to present a customer-friendly environment in

What's The Construction Schedule Optimization?

1083 words - 4 pages Introduction the construction industry is notorious of overrunning budget and delays. there are several real life examples of the aforesaid failures. It is argued that planning is the key for success or failure. Eisenhower the former U.S president in his famous quote said "In preparing for battle I have always found that plans are useless, but planning is indispensable". The planning is divided to three levels starting from the strategic

Cognition: Force of Strategy

2012 words - 8 pages structure and content of actors' strategic thought processes. This stream of work is based on the assumption that the strategist constructs a cognitive map or a mental model that is a simplified working model of reality, which acts as a basis for strategic decision making. Warren (1995: 11) sees a cognitive map as "a network of cause-effect relationships between factors in the situation under debate". According to Huff (1992: 267), "cognitive

"Strategy without action is only a daydream, but action without strategy is a nightmare" Discuss the benefits of formal corporate planning in directing organisational action

1588 words - 6 pages concepts and techniques were being adopted as organisations began to take a more national approach to business.Richard W. Oliver wrote in his article "The future of strategy", in the 1960s and 1970s strategic planning was considered a science. By developing rational models for decision making purposes a process for success would follow.A brief overview of one such planning tool is the 3-D model (Diagnose, Decide and Deliver). The 3-D model follows a

External Analysis – Theories, Frameworks and its Relevancy in Strategic Decision Making

1485 words - 6 pages sources using formalized techniques and can be factored into decision making, e.g., to support the application of the 5 Forces model or other frameworks for developing strategy•Forecasting - Forecasting or also known as scenario planning and helps planners deal with an uncertain future by providing a mechanism for envisioning a range of future scenarios, examine the possible impacts of them, develop a common view of the changing world, and

Strategic Planning: Short-Term and Long-Term Goals

968 words - 4 pages aligned and consistent with the organization’s mission. JHM’s strategic plan emphasizes the value of improving the workforce overall status by encouraging healthy life styles, professional development, embracing selective recruiting plans, investing in innovative leaders (John Hopkins, 2014). In the biomedical discoveries, the strategic plan aim for Johns Hopkins to become the leading institution research, data-intensive science, and developing

Similar Essays

A Biography Of Igor Ansoff Essay

1358 words - 6 pages operating. Strategic is focused on the areas of products and markets, administrative are for organisational and resource allocating and operating is for budgeting and directly managing. Ansoff's decision classification became known as Strategy-Structure-Systems, or the 3S model. Components of strategy Ansoff argued that within a company's activities there should be an element of core capability. To establish a link between past and future corporate

Diversity In Organisations Essay

2062 words - 9 pages and discloses possible future strategic opportunities for the company, which include online booking of tickets in the airline (Grant, 2010). In the other hand internationalization has been analyses using Yip’s Model, so as to determine the attractiveness of Easy Jet in the UK and mainland Europe market. These analyses identify how the company claims its objective through activities and relationships using Abell’s framework and industry analysis

Ensuring Success For A Fmcg Company

3322 words - 13 pages deteriorates rapidly, for example fresh food products (Jaray, 2005, p. 23). The goods must be bought every week or few weeks according to (Powell and Hardy et al., 2013). The authors go on to say that the goods must be cheap and that the FMGC business model must have a high volume/low margin. It must also include brand loyalty into the business model, as “FMCG companies cannot survive in business without many category buyers choosing the advertised

How Akh Group Can Help Make The World A Better Place

1055 words - 5 pages organic and inorganic (through foreign acquisitions). The founder of this business conglomerate has recently announced a sum of Rs. 10,000 Crore to be spent on nation building. Areas chalked out are Skill Development and Primary Health. Detail Road Map For the Purpose Of Achieving the Goals Of Community Development along with Strategic options, Cultural aspects, Economy and Outsourcing Options For an existing company growth strategies can be of