Ansoffs product-market expansion grid.

Current Products Current Markets Low Risk New Markets Low Risk New Products High Risk

Market Penetration Strategy

Product Development Strategy

Market-Development Strategy

Diversification Strategy

High Risk

# Less risky in the Existing Market with Existing Product # High risky in the New Market with New Product

Ansoffs product-market expansion grid.

Market-penetration strategy (gain more market share). Market-development strategy (new markets for current products). Product-development strategy (new products for current markets). Diversification strategy (new products for new markets).

IGOR ANSOFFS PRODUCT/MARKET EXPANSION GRID

Market Penetration:
Encourage current customers to buy more. Attract competitors customers to switch to its brand Convince non users who resemble current users to start using the companys product.

Market Development:
Geographical expansion Channel expansion : If only present in consumer market, then look at institutional sales also.

IGOR ANSOFFS PRODUCT/MARKET EXPANSION GRID

Product development Strategy : Introduce products with new features Introduce different quality versions Alternative product forms Diversification Strategy