What is ansoff matrix?

The Ansoff Matrix tool is used for planning and analysis of business growth and development alternatives. This Ansoff Matrix considers the existing and new markets as well as the existing and new products and services as a potential for business growth and development. The Ansoff Matrix has four quadrants:

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How to find information for marketing research

Gathering Market Information When doing marketing research you need to plan how you are going to collect the required information. Marketing Analysis and Research are the starting point of developing any successful marketing strategy. Your Marketing Analysis will be as good as the information you will gather for your analysis.

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Creating customer value proposition

Developing value for your customers Once the business identifies customer needs and preferences the next step in the process is developing value proposition. The Value Proposition is related to the positioning strategy of the business which takes into consideration the target customers, direct and indirect competitors and general market trends (current trends and future predictions).

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What is customer retention rate?

Customer Retention Rate is the percentage of the total number of customers who continue to do business with the company over a specific time period. The specific time period is determined by the company’s specific business and average frequency of purchase by the customers. Retaining customers (reducing customer turnover) is critical for profitability and business success. Marketing and Sales Managers ...

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Customer segmentation ideas

Performing Customer Segmentation Analysis and dividing your customer base into different segments based on different criteria is a great exercise for discovering profitable segments and alternatives for growth in those segments. Customers within one customer segment have similar characteristics and are driven by similar needs and preferences. Analyzing and understanding your customer segments can give you competitive advantage in your ...

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Direct response marketing

Direct response marketing targets your Market Segment / Target Market directly without using any other traditional marketing channels, sales channels, promotion and advertising. Direct Marketing is a very Effective Marketing Tool / Approach because it allows you a direct communication with your Target Audience (Your Potential / New Customers). Compared to other Marketing Tools and Marketing Tactics Direct Marketing is ...

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Social media marketing overview

Internet marketing is the process of marketing individuals, companies, organizations, events, ideas, information, products and services over the internet. Internet Marketing is used for marketing online / internet businesses as well as traditional and local businesses and organizations and it takes many different forms of marketing. As a marketing process or marketing channel includes online marketing, search engine marketing, email ...

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Likert scale for conducting surveys

Using Likert Scale in Surveys When designing a survey you always start with the goal in mind – the purpose of the survey. Next is creating a list of questions (designing survey questionnaire) and deciding how the respondents will answer your survey questions. What answering options should you give to the survey respondents and how you are going to collect ...

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Marketing research surveys ideas

A market research survey is one of the most simple and direct avenues that your business can take to obtain information from your current and prospective customers.  The purpose of this technique is to obtain data from a segment of your target market so that you will be better informed regarding what they want and expect of your business.  It ...

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Marketing audit tips

Marketing Audit: Organizational Marketing Assessment Marketing Audit is an organizational marketing assessment approach with the purpose of analyzing the marketing approach. Marketing Audit is very useful exercise for any organization because it can reveal weaknesses and identify opportunities for improving the current marketing activities taken by the organization. Marketing Audit is strategic marketing assessment and goes beyond focusing on advertising ...

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