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What are the growth strategies as per the Ansof...

What are the growth strategies as per the Ansoff’s Product-Market Growth Matrix?

What are the growth strategies as per the Ansoff’s Product-Market Growth Matrix?

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Jeeba Mar. 16, 2018

The followings are the growth strategies as per the Ansoff's product-Market Growth strategy.

Market Penetration:

Market penetration is a business growth strategy where you can sale your existing product at the existing market. An entity can penetrates its market through modification or improving. You should consider the taste of customers and accordingly improve product which ultimately helps to increase market share.

Market Development:

Simply, market development is selling products into new market where you have no presence before. It is a growth strategy where you are trying to enter into new market.

Product Development:

When a company has confidence, it can introduce any product which can fulfill the customers demands, it can launch a new product in the existing market where it operates. It is a strategy for company growth by offering modified or new products to current markets.

Diversification:

When you market your new products in a new market, it is a growth strategy of diversification. This strategy is risky because it does not rely on either the company’s successful product or its position in established markets. Before to take this decision you have to fully prepared as you are moving into markets and dealing with the products in which it has little or no experience.

What are the growth strategies as per the Ansoff’s Product-Market Growth Matrix?

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