In product development in Ansoff's model

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This can be done by, for example: Experiment with new export markets geographically Experiment with a completely different target group in other countries However, it is a growth strategy which can initially cause revenue and sales to fall, because promotion of the coffee machine or new customers must be implemented. the company's coffee machine product lines are expanded and sold to the current market, where the company tries to introduce a new product (for example, an espresso machine).

Improve the product, i.e. add new properties to WhatsApp Number List products or give it a new function The range is expanded by expanding product lines or creating new products under the same brand Introduce a completely new product that possibly covers new needs However, with this growth strategy, there is a great deal of uncertainty about the sales opportunities that exist, because you do not know how the new market will approach product development. Finally, there is diversification in Ansoff's growth strategies, which is a completely new product that is sold to a new market. Here a distinction is made between two forms; "concentric diversification" and "conglomerate diversification".




With concentric diversification, the company markets new products to new markets. Here there is overlap with the existing product portfolio, so that a synergy effect is achieved. In conglomerate diversification, on the contrary, it is a completely new business area that has no connection with the existing product portfolio. This growth strategy in Ansoff's growth matrix is ​​the most difficult and expensive to execute. It is the one with the most growth potential, but also the one with the highest risk. This of the four growth strategies can also end up in the establishment of a new company, as it can end up in a new business area.