Saleskipathshala : Business Growth Strategy With Ansoff Matrix - by Sanjay Singh
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The SME CEO often thinks about further growth in business and grapples between existing products and existing markets on one hand and new products and new markets on the other. The Ansoff Matrix is a tool to assist all CEO’s in their choice between new and existing products as well as markets to move further in business.
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Saleskipathshala : Business Growth Strategy With Ansoff Matrix - by Sanjay Singh
- 2. Our Topics Today MAIN POINTS Plan, Tactics, Strategy The Ansoff Matrix The optional business growth strategy An implementable business plan www.consult4sales.com Sanjay Singh Sales Coach and Growth Evangelist
- 7. MARKET PENETRATION EXISTING PRODUCT EXISTING MARKETS STICKINESS REMOVAL CAMPAIGN OUTREACH TO THE UNTOUCHED MARKETS Who are the customers with Average Basket Size of 1 and a high stickiness towards any given product category? What are the market segments in the existing market that we have not touched yet? The campaign The Budget The Implementation Plan Identify markets Collate data Trial - Retrial - Habit EXISTING PRODUCT, EXISTING MARKETS
- 8. NEW VARIANTS OF EXISTING PRODUCTS VAS Value Added Services SERVICES THAT ENGAGE EXISTING CUSTOMERS PRODUCTS THAT ENGAGE EXISTING CUSTOMERS NEW PRODUCT DEVELOPMENT Existing Markets, New Products
- 9. MARKET DEVELOPMENT MARKET GEOGRAPHY Where? Where are the market pockets where we have not yet reached? MARKET BEHAVIOUR How? How do the customers behave that distinguishes them from existing customers? MARKET SEGMENT What? What are the market segments that we have not yet approached? Existing Products, New Markets
- 10. Market Diversification NEW MARKETS, NEW PRODUCTS FORWARD Products that are required by the end user of the existing process. BACKWARD Products that are required as raw material by the existing process. FULL Totally new market or totally new product with no correlation to the existing markets or existing products www.consult4sales.com
- 11. WHAT STRATEGY? Market Development, Market Penetration, New Product Development, Diversification OBJECTIVE SMART Goal setting Specific, Measurable, Achievable, Realistic, Timebound BUDGETING Budget is the first chapter of any plan. REVIEW, REWARD & RECOGNITION QUARTERLY GOALSETTING Things to do Things to achieve DEMAND FORECASTING What is the guesstimate business expected to be done? PREPARING A BUSINESS PLAN
- 12. GROWTH IS ALIGNED ONLY WHEN YOU THINK AND PLAN ABOUT IT. SANJAY SINGH
- 13. Growth without a plan is like this jungle
- 14. A survey of Successful Small and Medium Entrepreneurs done in India show's this result. Where do you see yourself?