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Ansoff Matrix - Coggle Diagram
Ansoff Matrix
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Market development
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Drawbacks:
Products may not be accepted, esired, or understood
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Diversification
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This is a:
This is a high risk strategy as the market and product are unknown but has the highest potential reward
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product development
This is a high risk strategy as the business does not know the product, research and development, and competitions reactions
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A strategic planning tool that provides a framework to help executives, senior managers, and markets devise strategies for future growth
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