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Igor Ansoff developed Ansoff Matrix

What is Ansoff Growth Matrix Igor Ansoff developed Ansoff Matrix a strategist who first published in the Harvard Business Review in 1957 in an article named Strategies for Diversification It has been a great advantage for business leaders and a simple way to get to know about the risks of growth It also is known as the Product Market Expansion Grid the Matrix shows four strategies you can use to grow by analyzing the risks associated with each one It has been divided into four possible combinations Apple could use each of these four categories in order to manage its existing products and develop new products services The Four Growth Options Of The Ansoff Growth Matrix Market penetration strategy Product development strategy Market development strategy Diversification 1 Market penetration Market penetration refers to the growth strategy where the business focuses on selling existing products into existing markets Below are a few of the main objectives Market penetration focuses on The firm seeks to achieve growth with existing products in their current market segments aiming to Increase its market share http www quickmba com strategy matrix ansoff Increasing the market share of the current products for example by a mixture of competitive pricing strategies advertising sales promotion and many more Restructuring the market to drive out competitors for example by promotional campaigns maintaining pricing strategy which creates an unattractive market for competitors

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