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What is Ansoff Matrix?

The Matrix is developed by Igor Ansoff to portray the corporate growth strategies. The matrix focused on the firm’s present and potential products and markets (customers). The matrix considers ways to grow via existing products and new products, and in existing markets and new markets. The four possible combinations are:

  1.    Market Penetration
    
  2.    Market Development
    
  3.    Product Development
    
  4.    Diversification
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