This very informative. It reminds of my MSc. Unit of Strategic Management and I also use for my business. It work if well executed. Many thanks for sharing. Keep sharing
It would have been insightful if the video included the aim for product development, market development, and diversification. For example, for market penetration the content specified the aim is to take control of greater market share. The aim for product dev? expand product mix- maybe achieve depth of line or breadth of line to become a category or market leader- offer more comprehensive solutions( increase retention&CLTV/increase sales margins, diversify customer base and channels) because there a number of different reasons for selling new products to existing markets, what is the strategic end goal? Same thing for market development. Maybe because local markets are saturated, selling existing product to new markets aims to achieve greater increase total allowable audience, achieve greater economies of scale, tap strategic stakeholders (optimize value chain), maximize tax haven benefits, capitalize on emerging markets and their demographics, mitigate geopolitical volatility, what is the strategic end goal? Same thing for diversification. Typically selling new products to new markets is aimed at spurring innovation in order to stave off decline once a business enters or nears the maturation cycle. It also generally aims to maximize shareholder value by maximizing RONA (e.g maximizing facilities and idle capital.) Selling new products to new markets evidently implies existing demand and with the possibility of profitability. What is the strategic end goal?
Nice..very well explained and simple explanation with good example ..well understood ..thank u ..do make more videos .....the best part is u speak very clearly and slowly so each word is understood well ..thanks
Thank you for the feedback Krupa! Yes I consciously attempt to spell out words clearly and slowly. I don't mind coming across as slow. The intended outcome is effective learning for one and all. I am happy that you and most people are happy with this! :)
Plz answer this query sir .Assume that a company is involved in the development of non conventional power generation that can show you a very good growth rate. There is a problem with pollution from the use of fossil fuel. Which of the following term can be associated with such a situation. Market penetration,market development, product development or diversification
Hi Deevya. Presuming that the company is selling the product in its existing market, this will be Product Development. The market exists and the company is tapping into this existing market with its new offering. Hope this helps! :)
@@MisterSimplify thank you sir. This same option is the answer in the book. But I have a confuse there is no indication in which market they are launching this product so it can diversification also. New product- new market
@@deevyaagarwal9418 To simplify it in your mind, think about electric cars. A lot of companies sell electric cars now alongside regular cars. If Mercedes sells electric cars (new product) to the German market (existing market), it's Product Development. But if Mercedes decided to sell electric cars in some country it never sold in, it's Diversification. So if the market isn't clear, one has to clarify this point. Hope this clears things.
Found this really useful, especially pausing and copying the bullet points. It was good to have one example worked all throughout.
Thanks Molly! All thanks to multiple feedback from comments! :)
This is perfect...very simple and easy to understand..all th way from Zimbabwe🇿🇼
Thank you! :)
Okay this is the best explanation I have came across! Thank you so much!
You're most welcome, my friend! 👍
So useful and insightful. Thank you very much sir!
You're most welcome! 🙂👍
Thank you for this video. It was exactly what I needed to start to build an outline on how to grow my business. It was very useful and helpful!
Fantastic!! Do let me know if your plan succeeds. All the very best!
1 year passed are you already a billionaire yet?
Thank you very much, it was very easy to understand and assimilate 👍🏽
You're most welcome!
this is so helpful, the only way I have been able to fully understand this model
Really glad I was able to help you. Pls keep supporting! 😊❤
thanks alot i understand it now
You're most welcome! 😊
Tysm, can't be explained any better.. love from India ☺️
You're most welcome! :)
Best explained management video ever
I am flattered! Thank you for your appreciation! 😊👍
thank you so much. this helped me to understand it in an easy and fast way, i hope i will pass the coming exam with the help of this!
I wish you all the very best! :)
Very nice, I'm doing some research right now and found this video far easier to digest than the research I'm reviewing.
Hi Jae. Very glad to be of some help. Please do like and support this content! :)
Superbly explained. Thanks
You're welcome buddy! 🙂👍
Excellent!
Thank you so much for this amazing explaination! You re brillant!!! Will help me to pass my exams 💖✨
Thank you very much for your support! I shall continue this initiative. :)
Best output so far...👏🏾👏🏾👏🏾
👍🙂
Really exceptional content, served in simple yet profound way. Thanks so much.
Thank you for your kind words! :)
Vert Useful and Informative!
Wow... I have clearly understood the concept thanks so very much.
You're most welcome! Pls keep supporting! ☺
thank you very much very helpful
Excellent explanation . Good job man ,, Thumbs up
thank you, it was very helpful to understand the concept easily :)
Great video :) Thank you
You're most welcome Daniela! ☺
this was really helpful, thank you so much.
It's a very useful video, helped to gain a general understanding of the topic in an easy way!
Thank you for helping my presentation
You're welcome! 🙂
This very informative. It reminds of my MSc. Unit of Strategic Management and I also use for my business. It work if well executed. Many thanks for sharing. Keep sharing
That's great, Munyoki. Really glad I could help. Take care n cheers! 🙂👍
@@MisterSimplify welcome Sir
Thanks for this. really helpful to understand the Ansoff Matrix
You're welcome Asraaf. I am glad to help! 😊
Great video. Thank you so much for the lucid explanation. Extremely helpful
You're most welcome Varun! Please check out some other videos here. Hope they also help. And keep supporting! ☺
It would have been insightful if the video included the aim for product development, market development, and diversification. For example, for market penetration the content specified the aim is to take control of greater market share. The aim for product dev? expand product mix- maybe achieve depth of line or breadth of line to become a category or market leader- offer more comprehensive solutions( increase retention&CLTV/increase sales margins, diversify customer base and channels) because there a number of different reasons for selling new products to existing markets, what is the strategic end goal? Same thing for market development. Maybe because local markets are saturated, selling existing product to new markets aims to achieve greater increase total allowable audience, achieve greater economies of scale, tap strategic stakeholders (optimize value chain), maximize tax haven benefits, capitalize on emerging markets and their demographics, mitigate geopolitical volatility, what is the strategic end goal?
Same thing for diversification. Typically selling new products to new markets is aimed at spurring innovation in order to stave off decline once a business enters or nears the maturation cycle. It also generally aims to maximize shareholder value by maximizing RONA (e.g maximizing facilities and idle capital.) Selling new products to new markets evidently implies existing demand and with the possibility of profitability. What is the strategic end goal?
Great. Thanks
👍🙂
Thank you so much it was extremely helpful.
Perfect,thank you!
Nice..very well explained and simple explanation with good example ..well understood ..thank u ..do make more videos .....the best part is u speak very clearly and slowly so each word is understood well ..thanks
Thank you for the feedback Krupa! Yes I consciously attempt to spell out words clearly and slowly. I don't mind coming across as slow. The intended outcome is effective learning for one and all. I am happy that you and most people are happy with this! :)
Thanks for this. Really useful
Great stuff here, thumbs up👌
Makes sense.
Cheers! 👍
Excellent explanation.Very helpful.thank you much 😊
Very well explained. Cheers mate 👍
Cheers buddy! Keep supporting! 👍👍
Very helpful
Thanks for this video ❤️
You are most welcome Shiza! 😊
@@MisterSimplify ❤️
Can i ask something if u don't mind sir ?
@@shizaarshad6054 Hi Shiza. Yes go ahead. 😊
Thanks Teacher
You're most welcome! Please feel free to check out other content here! 😊😊
Thank you sir ❤
You are most welcome! 😊
Thank you for this video,Sir.
Thanks a lot, keep it up.
Thanks a lot.you made this very easy to understand.
Thanks... Was pretty helpful
Thank u for great information 👌
Thank you. It was helpful.
This was very helpful.
thanku so much really help full
This is very profound 👌💯
Thanks ! It's easy to remember things.
You're most welcome!
This was very helpful thank you
Plz answer this query sir
.Assume that a company is involved in the development of non conventional power generation that can show you a very good growth rate. There is a problem with pollution from the use of fossil fuel.
Which of the following term can be associated with such a situation.
Market penetration,market development, product development or diversification
Hi Deevya. Presuming that the company is selling the product in its existing market, this will be Product Development. The market exists and the company is tapping into this existing market with its new offering. Hope this helps! :)
@@MisterSimplify thank you sir. This same option is the answer in the book. But I have a confuse there is no indication in which market they are launching this product so it can diversification also. New product- new market
@@deevyaagarwal9418 To simplify it in your mind, think about electric cars. A lot of companies sell electric cars now alongside regular cars. If Mercedes sells electric cars (new product) to the German market (existing market), it's Product Development. But if Mercedes decided to sell electric cars in some country it never sold in, it's Diversification. So if the market isn't clear, one has to clarify this point. Hope this clears things.
@@MisterSimplify thank you sir... Now I got the point.. thank you for solving my doubt on the very short notice.😊
@@deevyaagarwal9418 You're most welcome! Keep supporting! :)
Great info
Well Explained. Thanks.
Thank you
what is the difference between market penetration and strategy
Hello! Saw you most recent comment. Glad that you understood it in the end! 🙂
how do we access your slides
Very helpful
thank you a lot. It's really useful
Very nice, I'm doing some research right now and found this video far easier to digest than the research I'm reviewing.
That's great Jae! Glad to help! 🙂