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Ansoff Matrix - Product Development
FOCUS = launching new products into existing markets.
(Different product, same people)
REQUIREMENTS =
development of new competencies
development modified products which can appeal to existing markets
SUITABILITY =
a business where the product needs to be differentiated in order to remain competitive.
SUCCESS = product development strategy placing the marketing emphasis on:
- Research & development and innovation
- Detailed insights into customer needs (and how they change)
- Being first to market
03/03/20
LO 2. To be able to apply the Ansoff Matrix (Product/Market Expansion Grid)
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