Explain the four different approaches to market growth as proposed by Ansoff
What will be an ideal response?
• Market Penetration: In the market penetration growth strategy, companies grow market share by marketing
existing products and services to existing customers in new ways. Three typical ways include targeting competitor's
customers, increasing purchase frequency , and increasing purchase amount.
• Market Development: In the market development growth strategy, companies grow by selling their existing
products and services into new markets. Two typical approaches include expanding geographically into new areas
(such as selling internationally) and expanding to a new class of buyers (such as targeting different demographic
segments).
• Product/Service Development: In the new product/service development growth strategy, companies grow
market share by marketing new products and services to existing groups of buyers.
• Diversification: In the diversification growth strategy, companies grow by marketing new products and services
to new groups of customers.
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If you are not given a time limit for your presentation, you should
A) make it as long as possible to ensure the audience understands the message. B) keep the presentation as short as possible while accomplishing your purpose. C) ask the audience how long they would like the presentation to take. D) make sure it takes no less than 30 minutes, not including the question-and-answer session. E) deliver the presentation impromptu, and end it whenever the audience appears to be losing interest.
When planning an outline for your speech, keep in mind that
A) it can include delivery cues, such as where you plan to pause for emphasis or use visuals. B) you should keep each item to two- to three-word descriptions of what you will say. C) you can leave out all transitions. D) this is not the place to include "stage directions." E) you should start with the opening and close.