...Igor Ansoff: From Strategic Planning to Strategic Management. 1) Background Igor Ansoff, also known as “The father of strategic management” was a business manager, engineer and applied mathematician that had emigrated from Vladivostok to New-York in 1934 when he was 17. After obtaining a degree in General engineering at the Stevens Institute of Technology followed by a PhD in applied mathematics, Ansoff joined the US Naval reserve. In the years during which he served his country, Ansoff was an intermediary with the Russian Navy during the Second World War. Igor Ansoff has worked for 8 years (1948-1956) for the Rand Corporation (Research And Development), an American think tank that worked and made researches for the United States armed forces. Then, in 1957, he joined Lockheed Corporation, an aerospace company, where he was required to develop a diversification plan, as the vice president. After teaching at the Graduate School of Industrial Administration (Carnegie Mellon University of Pittsburgh) in 1963, the European Institute for Advanced Studies in Management of Brussels from 1973 to 1975 and between 1973 and 1986 at the Stockholm School of Economics, he worked as a consultant in many renowned multinationals such as Philips, IBM, General Electric, etc. After a brilliant career, Ansoff passed away on July the 14th 2002. Nevertheless, this did not impeach his legacy from standing tall after his death. The annual “Igor Ansoff Award” created in 1981 in the Netherlands...
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...market products in one of the organizations. Firstly a brief description of marketing techniques: In 1957 H. Igor Ansoff invented the strategic management tool called the Ansoff Matix this splits marketing into 4 different groups to promote growth in a company. These growth strategies are; Market Penentration – this is where there is an exsiting product available in the market and by using various promotional tools, sales can be increased. This strategy carrys the least risk as there is already a market for the product such as Vaseline who previously only produced large containers introduced a smaller pocket size version. Market Development – this is where an organization introduces an exisiting product to a new market for instance Primark a british retailer who has now opened a store in Boston, America, they still sell the same items just in a different location. Product development – this is when a business developes a product which it can sell to exsiting customers such a TalkTalk; who offer internet security for an added price to the customers bill. Diversification – this is when the organization markets new products to new client/customers 2. Findings a. Marketing Definition write the definition here with a source to show where it is from. b. Marketing Techniques for ...... (name of business) This is where you introduce the business, draw an ANSOFF matrix and also cover branding and relationship marketing. c. Marketing Techniques for .... (name of business) ...
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...Strategic management is a field that involves the formulation and implementation of plans and policies that help an organization achieve its objectives. Strategic management as a professional field and discipline originated during the period of the half twentieth century, the 1950s with Igor Ansoff, Michael porter, Alfred Chandler and Henry Mintzeberg as the one of the main contributors in the development of the field of strategic management . During the 1950s, after the Second World War, academicians, researchers and practitioners basically paid very little attention to the practical concepts of strategy developed and embraced during the war. After normalcy and stability was achieved most business persons and investors started focusing and laying more emphasis on efficient and effective production in order to restore what was lost during the war. Consequently, production firms and organizations moved and shifted from an emphasis on operations, budgeting and controlling areas to more emphasis on planning aspects (Freeman, 2010). This arose as result of the dynamic environment that businesses were operating in and the urgent need for solutions which eventually demanded future planning taken at a larger perspective and view. This led to many businesses requiring the urgent need of having a corporate policy. With these, the seminar work of Chandler of 1962 placed and positioned the concept of strategy as a unique business function from marketing, sales, finance and production....
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...PCEM 008 Market Research and Management of Technology and Development Ansoff’s Matrix Report Prepared By: Eng. Mohamed Wagdy Under Super Vision of: Dr. Ashraf Tallat Ansoff's Matriex The Ansoff Matrix was developed by H. Igor Ansoff and first published in the Harvard Business Review in 1957,in an article titled "Strategies for Diversification." It has given generations of marketers and business leaders a quick and simple way to think about the risks of growth. The purpose of this matrix is to help managers consider how to grow their business through existing or new products or in existing or new markets. In this way he was helping managers to assess the differing degrees of risk associated with moving their organization forward. Ansoff’s matrix suggests four alternative marketing strategies which hinge on whether products are new or existing. They also focus on whether a market is new or existing. Within each strategy there is a differing level of risk. The four strategies are: 1. Market penetration – This involves increasing market share within existing market segments. This can be achieved by selling more products/services to established customers or by finding new customers within existing markets. is the safest of the four options. Here, you focus on expanding sales of your existing product in your existing market. 2. Product development – This involves developing new products for existing markets. Product development...
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...In this assignment I am going to be looking at the roles of marketing in two contrasting organizations, Tesco’s and the Oxfam. Tesco is a multinational food chain based in the UK and is the second largest retailer in the world after Wal Mart. On the other hand Oxfam is an international charity consisting of seventeen organisations which work together with partners and local communities throughout 90 countries to try and help erase poverty, this is a non-profit company as at the end of the day it is providing a service. Marketing is finding ways to provide products or services to customers through advertising and promotion. Organizations set up a list of marketing objectives to which they hope to achieve by a certain time goal. Marketing objectives are goals which are set up by the business when promoting its products or service to customers. Tesco’s marketing objectives are offering customers the best value for money at the most competitive prices, they seek to meet the needs of the customers by constantly seeking feedback on service, product quality and gathering opinions and they want to work closely with suppliers so they can build a strong relationship. On the other hand Oxfam’s marketing objectives are to set fundraising targets so they can try and get as much money as possible raised so they can guarantee that they can help people in third world countries, this means they want to make sure they advertise in the right demographic to ensure that people will donate, there...
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...Every business owner wants to grow their business but it is often difficult to determine the best way forward. Here is a straightforward description of four different growth strategies and an explanation of how to determine which is best for your business. Igor Ansoff suggested that business owners’ ability to grow their businesses comes down to how they market new or existing products in new or existing markets. He outlines four distinct strategies: - Market Penetration – selling more of the same things to more of the same customers - Market Development – selling more of the same things to different customers - Product Development – selling new products or services to the same customers - Diversification – selling new products or services to different customers Using Ansoff’s matrix, business owners can evaluate each of the growth strategies in turn to assess which is likely to result in the best possible return. Market Penetration Market penetration is the easiest way to grow in an expanding market. However, it becomes more difficult as the market matures and competition increases. The obvious step is to increase advertising or add more sales people to increase sales. Alternatively, business owners can win business from competitors through competitive pricing, discounting, vouchers or other offers. Business owners can also boost sales by providing additional incentives to sales staff through commissions, bonuses or other reward schemes or by introducing customer loyalty...
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...In this assignment I will be comparing both Apple and Starbucks to find out how marketing techniques are used to market products. I will include an Ansoff’s Matrix, survival strategies, branding and relationship marketing. Marketing – is the process in which the producers of goods and services focus on satisfying the needs of the consumers. Also marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. Growth Strategies – is a strategy aimed at winning larger market share, even at the expense of short term earnings. These consist of 4 broad growth strategies: * Product Development – is the creation of products with new or different characteristics that offer new or additional benefits to the customer. For example Apple updates their iconic iPhone by adding additional features like a bigger screen or a better camera. Starbucks also use product development, for example, when Starbucks released their ice frappes it only came out in one flavour, vanilla, but now they have made it better by adding different flavours like chocolate and Strawberry. But some stores in America do a bubble gum flavour for children. * Market Development – is a marketing technique aimed at increasing a company’s market in order to widen the customer base for the purpose of selling more products. For example Apple used to only sell in the USA because that’s where they were founded but now they have...
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...Ansoff’s Matrix Lowest Risk Highest Risk Medium Risk Medium Risk Marketing Management Presented to Dr. Ashraf Talaat Prepared by Fady Wahba (Group 50H) Ansoff Matrix: The Ansoff Matrix was developed and named after Russian American H. Igor Ansoff and first published in the Harvard Business Review in 1957, in an article titled "Strategies for Diversification". It has given generations of marketers and business leaders a quick and simple way to think about the risks of growth. Sometimes called the Product/Market Expansion Grid, the Matrix shows four strategies you can use to grow. It also helps you analyze the risks associated with each one. The idea is that, each time you move into a new quadrant (horizontally or vertically), risk increases. The Ansoff Matrix is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future growth. Growth Strategies: Ansoff, in his 1957 paper, provided a definition for product-market strategy as "a joint statement of a product line and the corresponding set of missions which the products are designed to fulfill". He describes four growth alternatives: 1 Market penetration: In market penetration strategy, the organization tries to grow using its existing offerings (products and services) in existing markets. In other words, it tries to increase its market share in current market scenario. This involves increasing market share...
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...Group Script: Ansoff's Matrix:: Introduction: The founder of this theory is H. Igor Ansoff. Ansoff Matrix is a marketing planning tool, which allows businesses such as Sony and Cadbury to control its business growth, which can be established through products sold and the business market scheme. This can relatively be determined on the conditions of the products being sold; whether it is brand immaculate and weather the businesses market is brand new or it is ancient. The Ansoff Matrix has four alternatives of marketing strategies; Market Penetration, product development, market development and diversification http://www.ansoffmatrix.com/ Diversification The last strategy is Diversification. This growth strategy involves an organization marketing or selling new products to new markets at the same time. It is the most risky strategy among the others as it involves two unknowns, new products being created and the business does not know the development problems that may occur in the process. There is also the fact that there is a new market being targeted, which will bring the problem of having unknown characteristics. For a business to take a step into diversification, they need to have their facts right regarding what it expects to gain from the strategy and have a clear assessment of the risks involved. There are two types of diversification. There is related diversification and unrelated diversification. In related diversification, this means that the business...
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...Synopsis - Marketing Strategies In The Current Business Environment – Julia Cupman, April 2009 About this synopsis This synopsis provides a brief insight into findings obtained from the Marketing Strategy Survey which was conducted in February 2009. The research will provide a foundation for my dissertation for a Masters in Marketing. I will also use my dissertation to create a white paper for B2B International. This will be called Effective Marketing Strategies For A Recession. I expect this to be available in May/June of this year. Who responded to the survey A total of 396 people generously gave their time responding to the survey which was designed to find out how marketing teams across continents are responding to the current economic environment. These respondents represented a broad spread covering all industrial sectors, many b2c sectors and most countries of the world. Three quarters work in organisations that employ more than 250 people and many are occupied in some of the largest corporates in the world. There was an acknowledgement from around 70% of respondents that they are one of a team involved in determining the appropriate marketing strategy for their organisation. How organisations are affected by the current business environment There is no doubt that the recession is affecting everyone and 4 out of 10 respondents said the effect has been very significant. As might be expected, national and overseas sales have been affected, investment has been cut back...
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...Assignment No.3 “Better a consistently applied mediocre strategy, than a series of ad hoc brilliant strategies.” Introduction to strategic planning To achieve certain strategically valuable results, specific actions are required to be planned and acted upon by an organisation or an individual. What inputs are made by the management of an organisation define the expected outputs. Steiner, George A. (2010) in his book explains that strategic planning is indissolubly mixed with field of management these days and is not regarded as a separate process. Managers focus has largely shifted from ‘operations only’ to ‘strategize and operate’ philosophy (Steiner, 2010). However, organisations are in a state of dilemma over the concept of effective strategy implementation (Grimshaw, et al., 2004). Some believe in single strategical approach that is consistent with one pre-planned scheme which slowly adapts to the environment; is most effective, while others point of view is that; to survive in this competitive market environment one has to adopt to series of ad hoc brilliant strategies because it can provide their business cutting edge over the others (Pietersen, 2002). I believe that both the strategies has a role to play in achieving desired strategical outcomes. What is important is that they fit right in the current environment and are implemented in a risk free manner. Changes in theories of Strategic planning When strategic planning was modernised in 1950s, large scale companies...
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...In this task, I am going to be describing and comparing how marketing techniques are used to market products in two organisations. The first organisation I will be talking about is Apple, and the second being Coca Cola. Marketing means that a business will identify the needs of the consumer and produce products that meet the requirements of them. In order for a business to perform and succeed, it needs to make sure that their customers are at the heart of operations. Should businesses do this, it would mean that they are market-orientated. As well as this, there are other forms of orientation for business. These include; * The production concept * The sales concept When a business uses a marketing concept, and putting customers at the heart of decisions. By doing this, a business operates more efficiently by prioritising investments on product development for the customers. Objectives In order for a business to grow and succeed, it is essential that it has its objectives outlined. The first aim a business will have when it starts out, is to survive. Once this goal has been achieved, it means that they can now focus on growth objectives, which means that they can focus on increasing market share and increasing profits. When businesses set objectives, they follow SMART guidelines. SMART stands for; * Specific – The objective must be clear and concise * Measureable – Objectives must be able to assess properly * Achievable – The objective needs to be reasonable...
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...BLB 20058 – M – MSTRA- L MANAGING STRATEGY ASSIGNMENT FARUK SULEIMAN TP025329 WORD COUNT: 3694 WORDS UCMF1103MBAIT SCHOOL OF POSTGRADUATE TECHNOLOGY PARK MALAYSIA ASIA PACIFIC INSTITUTE OF INFORMATION TECHNOLOGY UNIVERSITY OF STAFFORDSHIRE SHARMILA A/P K. N. SETHUMADHAVAN EXECUTIVE SUMMARY Strategy is well explained as the effective use of well laid out plans to achieve success. It is no less of spectacle to attribute strategy to individual achievement, achievement from a company, a country or at the very least a non – financial institute to achieve strategic success. Ford Motor Company has in recent times lost its market share to emerging Asian companies such as Honda, Toyota, Hyundai and Nissan. As a new landscape of economic might surfaces, new car stereotypes are emerging. Finding a place in these segments is proving difficult for Ford Motors and hence need to change its strategies. Hyper-competition combined with tough economic times has pushed Ford to the edge of insolvency. This paper examines the issues that plague the company while using published models to make analysis on how and why the problems occur to better understand their potential impact on the company’s sustainable competitive advantage. Recommendations will seek to give strategic solutions to address the issues identified earlier. This research isn’t structured upon models to identify, analyze and solve issues but rather looks at the core of the problems within Ford Motors...
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...Management Module and Module Number MKT11908 - Principle & Practice of Marketing Name and Matriculation Number Choi Pang Fung Oscar (40190237) Submission date 14 July 2015 (3,048 words) Content i. Study Objective P.3 ii. Bandai’s Company Background and Mission P.3 iii. Combination of Orientation in Bandai’s Marketing Philosophies P.4 iv. Strategic Marketing Models and Marketing Strategy of Bandai P.6 1. Ansoff Matrix P.6 2. BCG Matrix P.8 v. Possible Growth Opportunities within Macro Environment / Recommendation P.11 vi. Conclusion P.13 Reference P.14 Bibliography P.15 i. Study Objective This paper examines how Bandai Co., Ltd. implements a combination of Marketing and Product Orientation in its marketing philosophy. Then the formulation of their strategic marketing approaches will be assessed using Ansoff Matrix and BCG Matrix. The last section will evaluate potential opportunities for Bandai’s business growth within macro environment. ii. Bandai’s Company Background and Mission Founded in 1950 by Mr Naoharu Yamashina, Bandai Co., Ltd. (Bandai) is a leading Japanese toy manufacturer company and is headquartered in Tokyo. It is the forth largest producers of toys in the world (After Mattel, Lego and Hasbro)[1] with revenues...
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