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Ansoff’s Matrix
A tool used by businesses with growth objectives to identify appropriate corporate strategies and assess associated risks.
Market penetration
Strategy involving selling more products to existing customers to increase product usage and brand loyalty.
Market development
Strategy focusing on finding new market opportunities for existing products by entering new markets or targeting different customer profiles.
Product development
Strategy involving selling new or improved products to existing customers through upgrades, redesigns, or relaunches.
Diversification
Riskiest growth strategy targeting new customers with entirely new or redeveloped products, such as launching new product lines or entering new industries.
