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Ansoff Matrix Diagram

Ansoff Matrix Diagram

Market penetration

Existing products

multichannel management

Market Development

Product extension

New product

Existing market

New market

Ansoff Matrix

Market penetration strategy

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.

Market development strategy

Use existing products to expand in new markets, that is, market development. Think about whether you can develop some new markets for existing products.

Diversified business strategy

To develop new products for new markets is to diversify. Think about whether you can develop new products and enter new markets.

Product extension strategy

Develop new products for existing markets, that is, product extensions. Think about whether you can develop attractive new products for existing markets.

Using matrix thinking, we divide product and market development strategies into four types

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publish time: 2021-02-25
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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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