9 terms in 3.8
Ansoff Matrix (Strategic)
A strategic growth matrix plotting products (new/existing) against markets (new/existing) to identify four growth strategies.
Strategic direction: choosing which markets to compete in and what products to offer
competitive advantage
The unique advantage a business has over rivals that enables it to outperform them and generate superior returns.
Strategic positioning: choosing how to compete
differentiation
Making product/business distinctly different from competitors.
diversification
Business moving into different products/markets beyond current focus.
First Mover Advantage
The competitive benefits gained by being the first to enter a market or launch a new product, including brand recognition and customer loyalty.
focus strategy
Competing by serving specific market segment well.
market penetration
(Ansoff).
Porter's generic strategies
Three strategies for achieving competitive advantage: Cost Leadership, Differentiation, and Focus (niche).
product development