There are several different ways of analysing the various marketing strategies. The Ansoff matrix examines strategies in terms of the products offered and the markets a business competes . In the Ansoff matrix are four different strategies: marketing penetration, market development, product development and diversification.
Here is what the Ansoff matrix looks like:
- Maintain/increase market share of current products.
- Secure dominance of growth markets.
- Restructure a mature market by driving out competitors.
- Increase usage by existing customers.
- New geographical; for example, exporting the product to a new country.
- new product dimensions or packaging.
- New distribution channels.
- Different pricing policies to attract different customers or create new market segments (niche).