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What is Ansoff Matrix in Strategic Management about?
H. Igor Ansoff developed the Ansoff Matrix, which assists organizations in mapping strategic product-market growth options based on two variables: existing vs new markets, and existing vs new products. The matrix identifies four strategic areas - market penetration, product development, market development, and diversification - with increasing levels of risk. Managers must assess the costs, potential gains, and risks of each option to determine the best strategic path forward.
- Author
- Rahul Samant
- Language
- EN