![]() This is not about showcasing new products but rather about keeping the products and services that already exist in the company. Usually, it's about finding a new target or expanding geographically. ![]() In this case, it is about selling its products in new markets. There is generally a very good knowledge of the competition, which allows companies always to be more in line with the expectations and needs of consumers. The primary goal is to expand a customer base and encourage existing customers to buy more. The margin of error is, therefore, rather low. In this case, the company is indeed marketing its products in markets that already exist. Market penetration is a strategy whose risks remain very limited. The matrix is represented in tabular form with four boxes: market penetration, market development, product development and diversification. It operates under two different axes, the degree of product innovation and the degree of market knowledge. ![]() It allows for a more in-depth analysis of the company's strategic directions with the objective of profitability and growth. ![]()
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