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Ansoff Matrix
A model used to show the degree of risk associated with four strategies of growth: market penetration, market development, product development, and diversification.
Market Penetration
The objective of achieving higher market share in existing markets with existing products.
Product Development
The development and sale of new products or new developments of existing products in existing markets.
Market Development
The strategy of selling existing products in new markets.
Diversification
The process of selling different, unrelated goods or services in new markets.
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