Strategy Processes to Determine Business Growth Opportunities Focus on Two Dimensions: Products and Markets
Strategy Processes to Determine Business Growth Opportunities Focus on Two Dimensions: Products and Markets
strategy processes to determine business growth opportunities focus on two dimensions: products and markets:
Market penetration;
Market development;
Product development;
Diversification
Figure 1: Ansoff Matrix (Source: my description)
Market penetration: The Cliptomania offered a choice of hundreds of different styles of clip-ons, the non-pierced earrings different from traditional pierced earrings on-line.
The Cliptomanias customers aging from pre-teens to the elderly; 5% of the sales are cross-dresser and transgender population.
Market development: The Cliptomania sold product on its website. The early service provider was Yahoo! because its relevancy in search engine was always on the top three. Marketing on the web serve customers without no geographical boundaries.
Another marketing approach is to email promotion letter to cusrtomer eight times per year.
About 81% of The Cliptomanias rating have been excellent and earned a five-star Yahoo! rating for service.
About 10% of The Cliptomanias sale are to customer outside of U.S.
By Jun 2003, The Cliptomania wa the fifth largest jewelry store on Yahoon! in terms of gross.
Product development: The Cliptomania offered non-pierced earrings with quality and fashionable in a competitive price with outstanding customer service. They also offered 500+ clip-on earring