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corporate strategy - Coggle Diagram
corporate strategy
ANSOFF MATRIX
tool for growth objective
identifies appropriate corporate strategy and level of risk
TWO CATEGORIES
THE MARKET - EXISITNG AND NEW
THE PRODUCT - EXISITING AND NEW
FOUR COMPONENTS
MARKET PENETRATION
least risky
more products to existing customers
more and increased usage of product
brand loyalty of customers
MARKET DEVELOPMENT
finding and exploiting new market opportunities for existing products
reposition by selling to diff customer profiles
seek completmetry locos
PRODUCT DEVELOPMENT
selling new products to existing customers
develop new versions or upgrade
most new p's fail (6/7 in UK)
DIVERSIFICATION
most risky
traget new customers with entirely new products
CORPORATE STATEGY
MT/LT plan for achieving corporate objectives
helps provide comp advantage
takes into account
external factors eg Econ and political environ
internal factors eg human resources
PORTERS GENERIC STRATEGIES
identifies a range of strategies a business may adopt considering the source of comp advantage or the scope of the market in which it operates
MASS MARKET
COST LEADERSHIP
allows business to undercut rivals on price and stiff make profit by having an operational advantage eg highest productivity levels
DIFFERENATION
in a way that is 1. cost effective and 2. sustainable
NICHE = FOCUS STRATEGY
FOCUSED LOW COST
being the lowest cost competitor within there niche market
FOCUSED DIFFERENTIATION
offering specialised products within niche market