UK essays is an online service provider for students in terms of providing assignment helps, and educational resources related to subjects. The company is helping students, teachers and researchers from 2003. The company actively completed thousands of assignments and essays to students from all the corners of world across the diverse range of specialties and subjects. The company really work hard in improving the quality of the work and consider the constructive feedback important. The company is serving to thousands of customers and appointed expert writers of every field (UK essays, 2020).
Ansoff matrix helps the company in growing the business. It is a marketing tool which helps the company with four main growth strategies in combination of market and products. The matrix is very useful for examining the company position and the expansion strategy. Here is the detailed Ansoff matrix analysis of UK Essays.
Market Penetration
Market penetration is the strategy suggested by Ansoff matrix. This strategy mainly concentrates on existing customers and existing product portfolio of the company. The main aim of this is to increase the sales of current products in the markets and compete more effectively. Usually companies use it for boosting the sales without switching from original product and market conceptual framework. This strategy work when market is not facing intense competition. UK Essays is a platform providing the services to student by helping them out in assignments and essays. The company can adopt this strategy in different ways and can penetrate in the market deeply. The company can continuously improve its quality of assignments and essays to attract more customers. If a student will gain 80% marks in the assignment done by UK essays, he will recommend it to more of his friends. UK essays should also attract more of non-users. This will help in a way that if any of the related user need a recommendation, they can recommend the company to them (UK essay, 2018).
Product Development
Product development is another strategy suggested by Ansoff matrix. This strategy is considered as the natural growth of the company. Companies are encouraged to extend its product portfolio by introducing new products for the existing market. This is also called as product expansion strategy. Companies need innovation as a key. Companies opt for this strategy when they find a need for countering the strong challenge in markets. This way they can protect the market share. UK essay can choose this strategy, as it has worked for years in the academic industry. There are numerous companies offering the same services which UK essay is offering. The company should introduce new service like, it can start offering specialised thesis and articles for different subjects. It can also introduce its own digital library where different articles and authors work will be provided for students (UK essays, 2018).
Market Development
In this strategy, Ansoff matrix motivates the company to explore new markets for the existing products. This is also called as market expansion strategy. Companies here target new customer base either demographically or geographically. As UK essay is an online business and attract the customers from all over the world and serve to all ages, the company should look for new customer base. It can target the customers who want thesis of masters and PhD level. The company can also attract clients who want SEO’s articles, blogs, and social media content. This will help it in growing the business and also the markets it is serving too (Ilhan, 2015).
Diversification
This is highly risky strategy for the companies as this suggests the companies to enter in the different and new market with a new product or service. This means exploring new markets with a new product. It is difficult to get hit in the market, but if the strategy gets successful, companies can gain immense benefits from it. UK essays can opt for this strategy. It can diversify itself in providing the services of digital marketing for the companies. This will help the company in growing. Moreover, company can introduce its physical library store, where students will be provided with resources and other educational information for the assignments. The company can also diversify in providing online tutoring services for the students (Ilhan, 2015).
References
Ilhan, A. 2015. Growth strategy in business and a theoretical approach. [Online], Available at: https://www.researchgate.net/publication/283644997_Growth_Strategies_in_Businesses_and_A_Theoretical_Approach, [Accessed on: 16th February, 2020].
UK Essays, 2020. About UK Essays. [Online], Available at: https://www.ukessays.co.uk/, [Accessed on: 16th February, 2020].
UK Essays, 2018. Assessing the value of Ansoff Matrix Grid. [Online]. Available at: https://www.ukessays.com/essays/business/assessing-the-value-of-ansoff-matrix-grid-business-essay.php?vref=1, [Accessed on: 16th February, 2020].
UK Essays, 2018. The Ansoff Product Market Growth Matrix Marketing Essay. [Online]. Available at: https://www.ukessays.com/essays/marketing/the-ansoff-product-market-growth-matrix-marketing-essay.php?vref=1, [Accessed on: 16th February, 2020].