Running promotions to attract new customersĪll of these activities help keep existing customers interested while growing your client base within the existing market for growth. Showcasing your product portfolio on social media With the market penetration strategy, a company aims to increase market share by amplifying existing products in existing markets. Here are a few strategies that come with each portion of the grid. Are you more interested in entering new markets, developing new products, or increasing your brand’s reach? To get started with using the matrix, you’ll need to think about the level of risk you’re comfortable with. Igor Ansoff in 1957, first published in the Harvard Business Review. Diversification is the riskiest growth strategy in the grid, involving a leap into the unknown with new markets and new products.Īnsoff’s matrix was developed by a business manager and mathematician named H. Market penetration is considered the least risky, because you’re working with a known market and existing products. Market Development: enter a new market with existing productsĭiversification: enter a new market with new productsĭifferent combinations of strategies involve varying levels of risk. Product Development: introduce new products to an existing market Market Penetration: increase sales of existing products to existing markets As you can see, there are four main growth strategies in the grid:
0 kommentar(er)
