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Ansoff matrix - Coggle Diagram
Ansoff matrix
Market penetration
Occurs when business grow, increasing market share, selling more of existing products in same market.
Safest option for growth, bit opportunities fro increasing market share are limited by competitors.
Relies on promoting loyalty to encourage repeat customers, and to lure them from copmetition.
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Product development
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Risker than market penetration, depending on how loyal customers are to original products.
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Market development
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Risker than market penetration, ad business may not understand new markets, however may require approaches from market penetration.
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Diversification
Riskiest growth strategy, it introduces a new product into a new market, combining...
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