A model that helps businesses analyse ways in which to grow the business. There are four strategies: Penetration, Market Development, Product Development and Diversification.
Measure the relationship between an independent and a dependent variable. The relationship can be: Positive or Negative, Strong or Weak.
The riskiest strategy on the Ansoff Matrix, which includes entering new markets with a new product.
Selling existing products to a new market.
The less risky strategy of the Ansoff Matrix. This includes selling existing products to an existing market.
Selling a new product to an existing market.
Using past trends to make future predictions.
A general direction that something tends to move.
Estimating the future likely sales of a product/service.
Changing the marketing mix for a product to appeal to a different market segment.
Specific amount allocated to the marketing department.
The actions the marketing department will take to achieve its marketing objectives.
The way the marketing department tries to portray an image in the minds of the target market.
Analysing the size, structure and growth of a market to support market decisions.
The proportion of the market revenue or sales volume held by a business or brand.
Percentage growth over a period of time. Usually annually.
Calculation to "smooth" fluctuations in data to show a trend average.
Advantages such as skills, competences, resources etc that out-perform a businesses competitor.