The Ansoff Matrix is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future growth. It is named after Russian American Igor Ansoff, who came up with the concept.

Here's what each of the options in your question refers to in the context of the Ansoff Matrix:

A. Selling present product to present market: This is known as Market Penetration. The aim is to sell more of the same products or services into existing markets to gain a higher market share.

B. Sell present product in new market to gain new customers: This is known as Market Development. The aim is to sell existing products or services into new markets (new geographical areas, different types of customers, etc).

C. Develop new product to sell in present market: This is known as Product Development. The aim is to introduce new products or services into existing markets.

D. Develop new product and target them in new market: This is known as Diversification. The aim is to produce new products or services and introduce them into new markets. This is typically the most risky strategy as it involves moving into an entirely new market where the business has no experience.

Question

The Ansoff Matrix is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future growth. It is named after Russian American Igor Ansoff, who came up with the concept.

Here's what each of the options in your question refers to in the context of the Ansoff Matrix:

A. Selling present product to present market: This is known as Market Penetration. The aim is to sell more of the same products or services into existing markets to gain a higher market share.

B. Sell present product in new market to gain new customers: This is known as Market Development. The aim is to sell existing products or services into new markets (new geographical areas, different types of customers, etc).

C. Develop new product to sell in present market: This is known as Product Development. The aim is to introduce new products or services into existing markets.

D. Develop new product and target them in new market: This is known as Diversification. The aim is to produce new products or services and introduce them into new markets. This is typically the most risky strategy as it involves moving into an entirely new market where the business has no experience.

Knowee AI · Accepted Answer

The Ansoff Matrix is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future growth. It is named after Russian American Igor Ansoff, who came up with the concept.

Here's what each of the options in your question refers to in the context of the Ansoff Matrix:

A. Selling present product to present market: This is known as Market Penetration. The aim is to sell more of the same products or services into existing markets to gain a higher market share.

B. Sell present product in new market to gain new customers: This is known as Market Development. The aim is to sell existing products or services into new markets (new geographical areas, different types of customers, etc).

C. Develop new product to sell in present market: This is known as Product Development. The aim is to introduce new products or services into existing markets.

D. Develop new product and target them in new market: This is known as Diversification. The aim is to produce new products or services and introduce them into new markets. This is typically the most risky strategy as it involves moving into an entirely new market where the business has no experience.

What is product development as per Ansoff matrix? A. Selling present product to present market B. Sell present product in new market to gain new customers C. Develop new product to sell in present market D. Develop new product and target them in new market

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