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THE ANSOFF MATRIX - Coggle Diagram
THE ANSOFF MATRIX
Diversification
you grow by offering
new products to
new market segment
related diversification
unrelated diversification
Market development
you grow by selling existing
products to new markets
enter new territories
creating new product dimension
new distribution channels
create products targeted at different market segments
Market penetration
you grow by selling
more of your
existing products
to current markets
entice customers away from competitors
encourage existing customers to become more frequent users
acquire a competitor
Product development
you grow by selling new products
to your existing markets
buying the rights to someone's else products
bring out new product updates
investment in research and development