Strategies for Expanding a Business

Product/Market Grid
Knowledge Center

 

Next Topic

Product/Market Grid > Best Practices

naresh bodduna, Accountant
A person started a business of extracting metals. Soon it became a popular business. In order to expand his business, he needs to utilize a strategy and follow it. What kind of strategy could he use? (...) Read more? Sign up for free

Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.

Sign up for free     Log in


  Jaap de Jonge, Editor, Netherlands
 

Strategies to Expand a Business

Hi Naresh, I moved your question to this forum, because it fits really well with your question. As you can see, according to the Ansoff Matrix the business founder could choose from 4 strategies:
1. Market Penetration
2. Product Development
3. Market Development
4. Diversification
Which one is best depends on the circumstances and the preferences (vision, mission) of this entrepreneur.

  Akintunde Olusegun, Consultant, Nigeria
 

Strategies for Business Expansion

I agree as pointed out by @Jaap de Jonge, you need to study and analyze Ansoff's business expansion strategies to be able to zero in on the one that fits your particular situation and business milieu.

 
More on Product/Market Grid
Summary
Forum
🔥Diversification Types and Examples
Be Careful with Benefits of Diversification - Misconceptions and Generalizations
How to Decide in Which Sector to Diversify?
How to Prioritize Business Growth Opportunities (Ansoff): The ICE Prioritization Tool
Best Practices
🥇Ansoff Matrix Applications
🥈Turbulence, Planning and Paralysis
🥉Summary of STRATOP Model
Diversification and Globalisation
Product/Market Growth Matrix, Product Market Combination (PMC), PMG
Strategies for Expanding a Business
Ansoff Matrix for Marketing Strategy
What is the Optimal Level of Diversification for Firm Performance?
Diversification in Africa: Why African Economies must Diversify
Special Interest Group Leader

Are you an expert in Product/Market Grid? Sign up for free


Product/Market Grid
Knowledge Center

 

Next Topic



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2020 12manage - The Executive Fast Track. V15.6 - Last updated: 22-9-2020. All names of their owners.