What is Product and Market Expansion Grid in Marketing? PDF Book

Learn Product and market Expansion Grid definition in marketing with explanation to study “What is Product and Market Expansion Grid”. Study product and market expansion grid explanation with marketing terms to review marketing course for online MBA programs.

Product and market Expansion Grid Definition

  • A portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong

Product and market Expansion Grid Explanation

The Product Market Expansion Grid, additionally called the Ansoff Matrix, is an apparatus used to create business development methodologies by analyzing the connection among new and existing items, new and existing markets, and the hazard related with every conceivable relationship. The lattice helps development designs through the presentation of existing or new items, in existing or new markets. The framework is structured so that as an organization plots it's new and existing items and markets, the measure of hazard related with that system compares with its situation on the network. Building up a procedure with existing items and markets is low in hazard, yet with new items and markets chance increases. The Product Market Expansion Grid offers four principle recommended methodologies: Market Penetration, Market Development, Product Development, and Diversification.

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