Ansoff Matrix Diagram
This is the standard Ansoff matrix diagram, from which there are 4 parts should consider, including market penetration, product extension, market development, and multichannel management. Use existing products to expand in existing markets, that is, market penetration. Think about whether you can enter and consolidate a market with a flagship product. Develop new products for existing markets, that is, product extensions. Think about whether you can develop attractive new products for existing markets.
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