Redesigning your product doesn’t necessarily mean starting from scratch, or even changing the way your product looks and feels. We can work with you to reduce your overheads, your expenditure on materials, or maybe even increase production speed, without compromising the high quality of your products. Now that your existing product lines are humming along, it’s time to look to the future and find your next big project or extend your range. Whether you already have something in the production pipeline or just an idea scribbled in the margin of your notebook, Highvale can work with you to help bring your new or existing product designs to life with a solid product development strategy. At Highvale, we bring to bear nearly 50 years’ experience in product development across a range of business sectors and industries, connecting clients with industry specialists, designers, manufacturers and distributors to help small and medium businesses to expand their vision and scope. We’re passionate about helping you take your small or medium business to the next level – chat with Highvale and set yourself up for future success. If you’re not moving forwards, you’re moving backwards: in business, there’s no such thing as standing still.
With a wealth of experience to draw from, Highvale can help you sort through the pitfalls and possibilities to add new diversity to your product lines. For your product – and your business – to reach its full potential, it’s crucial you connect with the right manufacturers and resolve some key questions about the processes underpinning your distribution strategies. Begin the discussion today, and let Highvale help you to shape your production and distribution channels into a more effective and productive operation. This solution extends ConceptDraw PRO software with samples, templates and library of design elements for drawing the business matrix diagrams.
Diversification is a corporate strategy to increase sales volume from new products and new markets. The ConceptDraw PRO and MINDMAP software allow professional to make well-designed SWOT matrix in minutes. A SWOT analysis helps professionals to identify the positives and negatives in the organization and in the external environment. SWOT analysis is a method of the making plan to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project. Growth-Share Matrix Software - ConceptDraw PRO is a powerful diagramming and vector drawing software for creating professional looking Growth–Share Matrices. ConceptDraw PRO software extended with Matrices Solution from the Marketing Area of ConceptDraw Solution Park offers you the possibility to develop the Ansoff Matrix of any complexity. ConceptDraw PRO extended with Matrices Solution from the Marketing Area of ConceptDraw Solution Park is a powerful software for drawing various types of Marketing Matrices: Ansoff Matrix, BCG Matrix, Deployment Chart, Feature Comparison Chart, Competitive Strategies Matrix, Flow Process Chart, Porter's Value Chain Diagram, Positioning Map, and many others. A SWOT Analysis is a popular strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in any businesses. This solution extends ConceptDraw PRO v9 and ConceptDraw MINDMAP v7 with Marketing Diagrams and Mind Maps (brainstorming, preparing and holding meetings and presentations, sales calls). For a whole variety of reasons, there are times when as an individual or in business you want or need to expand or change your field or market. Having decided that you want to grow your business or career, you’ll have hundreds of ideas about things you could do. Using a strategic approach, such as the Ansoff Model or Matrix, helps you evaluate your options and choose the one that suits your situation best, and gives you the best return on the potentially considerable investment that you’ll need to make.
The Ansoff Matrix was first published in the Harvard Business Review in 1957, and has given generations of marketers and small business leaders a quick and simple way to develop a strategic approach to growth.

The Matrix essentially shows the risk that a particular strategy will expose you to, the idea being that each time you move into a new quadrant (horizontally or vertically) you increase risk. Looking at it from a business perspective, staying with your existing product in your existing market is a low risk option: You know the product works, and the market holds few surprises for you.
However, you expose yourself to a whole new level of risk either moving into a new market with an existing product, or developing a new product for an existing market. And by moving two quadrants and targeting a new market with a new product, you increase your risk to yet another level! Looking at it from a personal perspective, just staying where you are is (usually!) a low risk option.
Switching to a new role in the same company, or changing to a similar job with a company in the same industry is a higher risk option. Target different groups of people, perhaps different age groups, genders or demographic profiles from your normal customers. Its main advantage is that, should one business suffer from adverse circumstances, the other is unlikely to be affected. With this approach, you’re trying to sell more of the same things to the same people.
This is useful as it shows the difference between product extension and true product development, and also between market expansion and venturing into genuinely new markets (see Figure 3).
Here I give four examples of the commonly taught penetration, product development, market development, and diversification strategies. When marketers try to sell the existing product to the existing customers, they engage in penetration strategy. McDonald's introduced salads in their outlets in order to retain its existing customers, many of whom were becoming more health conscious.Salads are exactly opposite of what McDonald's is known for! Introducing an existing product in different markets is perhaps one of the most used strategies to extract full benefit of a successful product. When marketers introduce a totally new product to a completely new market, they engage in diversification. You must have JavaScript enabled in your browser to utilize the functionality of this website. Each one was conceived and created for a specific purpose, and you’re proud of it – so why change it? But it’s always worth taking a peek behind the curtain to see how your product is being put together, and see if could be done better.
It’s crucial for your business that you develop the most sustainable product design possible. We’re real-world professionals with a real-world, first-hand understanding of what it takes to make your business excel in a hyper-competitive marketplace. Diversification can be expanding into a new segment of an industry that the business is already in, or investing in a promising business outside of the scope of the existing business.
The SWOT Analysis solution includes the SWOT matrix samples, and templates that allow users create own SWOT diagram. It involves specifying the objective of the project and identifying the internal and external causes for the accomplishing project goals. Henderson for the Boston Consulting Group in 1970 to help corporations to analyze their business units and to help the company allocate resources.

SWOT mind maps quickly capture your ideas, and allow you to add and subtract easily, ensuring you don’t overlook any important items. You can export your SWOT mind map into a MS Word document, which makes using SWOT mind map easier if you need to collaborate it with other people.
In business, you might need to achieve economies of scale, make more money for investors, or gain national or even global recognition of their brand.
For your business, this means new products, new markets, new channels, or new marketing campaigns. The market may turn out to have radically different needs and dynamics than you thought, or the new product may just not work or sell. However, regulatory pressures, changing consumer behavior, and negative media coverage forced them to introduce more healthy choices on the menu.
A very common example is entering different geographical areas nationally and internationally. At Highvale, we specialise in refining product development processes to benefit your business and your consumers. Are there avenues still left unexplored, hidden goldmines that could take your product to the forefront of the marketplace and keep it there?
How is it easy design the BCG Matrices in ConceptDraw PRO diagramming and vector drawing software supplied with unique Matrices Solution from the Marketing Area of ConceptDraw Solution Park.
For example, by changing pricing, by adding minor features (new and improved!), changing the packaging (shampoo sachets), or highlighting alternative uses.
With its launch Apple targeted a very large customer group, very different from its traditional smaller cult-like following.
The first three strategies are usually pursued with the same technical, financial, and merchandising resources used for the original product line, whereas diversification usually requires a company to acquire new skills, new techniques and new facilities. Abbreviation SWOT definition: S = strengths, W = weaknesses, O = opportunities, T = threats.
In this commercial, we get to how Cadbury India is pushing for chocolates to be used as small gifts instead of more traditional sweets used during Diwali festival. In my opinion Apple's agreements with music labels gave them their unique positioning rather than the iPod hardware or iTunes.
Often named SWOT Matrix was introduced first at 1960s as examining tool of internal capabilities and possibilities of big companies. Steve Jobs and his team put a tremendous effort in creating contracts with music labels and artists.
You can begin a strategy to distinguish better competition value and to become successful in your market.
Achiving best results form SWOT analysis can be reached when several employees will be involved at the process. Management, sales and customer service can all offer reasonable comprehension competitive situation.

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Comments to «Product diversification strategy pdf»

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