Frequently asked questions
What are the 4 basic strategies for product market expansion?
The 4 basic strategies are market penetration, market development, product development, and diversification.
What is Ansoff`s expansion theory?
Ansoff`s expansion theory, or the Ansoff Matrix, is a strategic tool that helps businesses decide on growth strategies by analyzing product and market combinations: market penetration, market development, product development, and diversification.
What is a market expansion or development strategy?
A market expansion or development strategy means entering new markets or increasing sales in existing ones by targeting new customer groups or areas.