Ansoff’s Model for Strategic Techniques

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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 me...

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