In the first of two tools, we look at Ansoff’s Matrix with post it notes to help determine your product and market growth strategies. It points out the various strategies that a business can take depending on whether it wants to market new or existing products in either new or existing markets.
The second tool is the Promotional Programming Template which helps you consider a programme of message and media to get the word out to your current and target clients.
1. Recongise the make up of Ansoff’s Matrix in relation to product/service and market development
2. Consider the questions for business growth in relation to the five phase business plan. Moving from market penetration to market development, product development and/or diversification. I include collaboration, joint ventures, mergers or acquisitions in that last box.
Whichever stage your business growth is at you need to consider how you build market presence. The Promotional Plan is a great template:
3. List the promotional channels down the left
4. Enter the relevant events that take place during the year in relation to your market
5. Decide on a programme of content that will help build the brand
Please do share your experiences with this model in the comments below. I am building a portfolio of small business case studies and would love to include examples of what has worked well for you.
PS – If you need further help then give me a call on 07962 626604 to arrange a Skype session with me.