The Ansoff matrix has advantages and disadvantages. Although simple, the matrix helps companies plan their business growth in the future related to their products and markets. In addition, the matrix provides apparent alternatives for how they
What are examples of marketing objectives?
Examples of marketing objectives include increasing sales or market share. Another example is building brand loyalty to encourage customers to continue buying products. Marketing objectives allow the company to focus on the direction to be
Risks Associated with Four Growth Strategies in Ansoff Matrix
The Ansoff Matrix offers four strategies for growing a business, considering products and markets. We can use this model in strategic planning to get an overview and evaluate growth potential. However, there are some risks inherent in each
Strategic Direction: How To Write It And Its Relation To The Ansoff Matrix
What's it: Strategic direction is about where we are going. It determines our plans and the steps we will take to realize our vision and mission. And strategic direction involves us rethinking effective competitive
How Do Businesses Respond to A More Competitive Market?
Revisiting competitive strategy is one way to respond to a more competitive market. For example, in marketing, businesses identify what needs to be adapted to be relevant to today's competition and customer needs, whether related to the product,
Consumption Expenditure: Type, Determinants, Impact
What's it: Consumption expenditure refers to the money individuals spend on goods and services. In economics, we can also say it is the residual disposable income after saving. Economists assume individuals allocate their income for two
Why are some markets becoming more competitive?
Some markets become competitive for several reasons. Globalization is the first reason. It makes the competition map wider because it involves foreign players. For example, it encourages foreign goods to easily enter the domestic market, increasing
How Consumption Expenditure Affects the Economy
In macroeconomics, consumption expenditure affects the economy through aggregate demand. Economists include it as an item in aggregate demand in addition to business investment, government spending, and net exports. Thus, when consumption expenditure
Competitive Market: Characteristics and Examples
What it's: A competitive market refers to a market characterized by intense competition in which no player has a dominant power. It is identified as a perfectly competitive market with many buyers and sellers. And they individually cannot