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Ansoff Matrix - Market Development
FOCUS = selling existing products into new markets.
APPROACHES =
New geographical markets; for example exporting the product to a new country
New product dimensions or packaging: for example
New distribution channels (e.g. moving from selling via retail to selling using e-commerce and mail order)
Different pricing policies to attract different customers or create new market segments
Market development is a more risky strategy than market penetration because of the targeting of new markets.
03/03/20
LO 2. To be able to apply the Ansoff Matrix (Product/Market Expansion Grid)
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