Ansoff's Matrix Comic Strip
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- How can we grow the business? We have to move forward!
- Sir, we could apply one of the Ansoff's Matrix strategies!
- Oh, what are those?
- It is a strategic tool that considers the opportunities of offering existing and new products within existing and/or new markets. It also analyzes the levels of risk associated with each.
- The four types of strategies within it are: market penetration, product development, market development and diversification.
- Exactly!
- Product development consists in the development of new products or services and placing them into existing markets.
- Market penetration consists in the selling of established products into existing markets.
- Finally, diversification consists in the development of new products and putting them into new markets at the same time.
- Nice!
- Yeah! I heard that one it's considered the most risky strategy.
- Market development consists in taking existing products or services and selling them in new markets.
- Everything sounds awesome!
- Sure!
- In the next meeting we should discuss in which of those strategies we should move forward onto.
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