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Ansoff Matrix in Growth Strategy

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Blackwood
Published on 2022-08-30
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The Ansoff Matrix in Growth Strategy is a strategic framework that assists businesses in determining which of the four strategic directions they must take to grow their business successfully. It is most commonly employed during the strategy development stage of the marketing planning process. Management determines the most likely strategies for adoption based on the matrix. They then decide which methods to employ in their marketing efforts. To reach different markets, they may use more than one strategy. Ansoff categorizes the matrix as having four strategies: new products, existing products, new markets, and existing markets.
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