Are you living with Ansoff Matrix? Have a look.

After some gap once again I am back to write something.

The market has gone too tight now, and customers all have their choice. The market is free and client's have lots of choice to choose from. Despite a volatile economy at present and a lot of unemployment and income getting reduced, businesses are thinking what to do and how to do it. 

What is that which we perform to maximise our sales and perform effectively in a market we choose and how we should make our products more attractive. All needs a strategic decision by the entrepreneurs.

I thought why not to lets go from Ansoff matrix. Living in this matrix is quite fruitful enough for the businesses and it is this strategic marketing which can help to make our area of business more strong then competitors.

Basically we need to be aware of the factors that can influence and the matrix comprises four major areas and is all about your market and your products and services , whether its a new market, existing market, new product or existing products. What we need is  just  add something to play in the market.

1) Market Penetration

2) Product Development

3) Market Development 

4) Diversification

A careful strategic planning may help to be in the perfect market with effective marketing decision making a lot more sale and satifying maximum no of clients. After all who don't want to have big profit figures in their statements. If you are not involve in these profit figures then something is wrong.

We need to be aware of our products features more in depth and where they are in the market position. And this matrix can be used for all the goods and service businesses.

Here are the points which may help to take the right decision and modify or be in the existing structures.

1) What is your product and market niche?

2) Who are your customers?

3) What benefits your customers will get from you or what is there that is differntiating your products from your rivals so that customer should choose you instead of your competitors.

4)Have you got sufficient capital to diversfy your business?. Even after so are you making a good from that market.

5) Is the new market which you are choosing good for your products? or are there any demands for your products or services? You should be aware of your competitors presence in the same market too.

6) Are you marking any extra features in your products to make them more attractive?

7) Or Are you just relying on one product for the future profits? If you are then it is most likely that you will be outdated. 

8) Are you charging a relevent price  for your products in your chosen market? or Is the income level of your consumers OK to buy your products and services? 

Such points needs some definitions from you for your own clarification of expected profits or markets.

There are many businesses failed with a bad choice of selection. Even if they have diversified they are finding it difficult to survive. To be effective it is must that you do a research before choosing any steps from the matrix.

It's the product and market which can benefit you. You should be aware of the diversification or differentiation consequences. A bad choice can make a business suffer big losses.

Stay safe and stay cool with your products and market and you will be the market leader soon. Just add something to its flavor and it will taste good. 

Remember our motive should be to hit the bulls eye.

Digvijay Thapa

 (The writer doesn't take any responsibility and liability of using his blog contents to implementation  by anybody in their business, in doing so by any entrepreneur  will be at their own decision  and will be doing by their own test and analysis results and writer doesn't have any involvement and liability in their action)