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Choosing markets and products key terms
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key terms
Resource type
Topic
Choosing markets and products
Key terms
Ansoff matrix and strategic direction
Ansoff matrix and strategic direction is a Business concept used to analyse Analyse factors influencing which markets to compete in and which products to offer.. A strong answer defines it, applies it to a named business context and explains the commercial consequence.
analyse
analyse should be judged by linking it to objectives such as profit, survival, growth, competitiveness, efficiency or customer satisfaction.
factors
factors affects stakeholders differently, so analysis should consider owners, managers, employees, customers, suppliers or investors before reaching a judgement.
influencing
influencing has a financial impact when it changes costs, revenue, profit, cash flow, investment return, break-even output or ratio interpretation.
which
which becomes evaluative when advantages, disadvantages, risk, opportunity cost and business context are weighed rather than listed separately.
quantitative analysis
quantitative analysis is a Business concept used to analyse Evaluate market penetration, market development, new product development and diversification as strategic direction options.. A strong answer defines it, applies it to a named business context and explains the commercial consequence.
Ansoff matrix and strategic direction
Ansoff matrix and strategic direction should be judged by linking it to objectives such as profit, survival, growth, competitiveness, efficiency or customer satisfaction.
market penetration
market penetration affects stakeholders differently, so analysis should consider owners, managers, employees, customers, suppliers or investors before reaching a judgement.
market development
market development has a financial impact when it changes costs, revenue, profit, cash flow, investment return, break-even output or ratio interpretation.
product development
product development becomes evaluative when advantages, disadvantages, risk, opportunity cost and business context are weighed rather than listed separately.
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