Question

a. Draw the Ansoff growth matrix ( 2 marks)

b. Using the growth strategies in the matrix discuss how you will apply the growth strategies

to grow a University in the next four years (28marks)

Answer 1

Part A )The Ansoff matrix is as follows :

Where on the x axis is the increasing risk and product development

On the y axis are the markets.

Part b ) On the basis of growth strategies in the Ansoff Matrix, following strategies can be used to grow a university:

1. Market penetration : By increasing the spent on advertising both offline and online of its distinguished alumnus, the university will try to establish a brand name for itself thus attracting more probable students

2. Market Development : By increasing the quota for foreign students, the university can now attract students from various geographical locations. Moreover, this will help in gaining more revenue by charging these foreign students higher.

3. Product development : With the COVID 19 situation, the university can start offering online classes to its existing students for the rest of the semester of their course which was initially a classroom course. It will help save costs by the university.

4. Diversification : By selling tickets of the soccer events of the university teams the university will delve into attracting new customers and a new product(as the primary/old product was just providing education).