Strategies to Expand a Business
Jaap de Jonge, Management Consultant, Netherlands
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
Which one is best depends on the circumstances and the preferences (vision, mission) of this entrepreneur.