Asked by Madison Allen on Sep 28, 2024
Market penetration,product development,market development,and diversification are the four growth strategies defined by the ________.
A) Ansoff matrix
B) Markov model
C) Reilly model
D) BCG matrix
Growth Strategies
Plans implemented by organizations to increase their size, revenue, or market share through diversification, market penetration, product development, or market development.
Ansoff Matrix
A framework used to identify a company’s strategic options for growth by assessing products and markets.
Markov Model
A statistical model that predicts future states based on the current state, often used in machine learning and economic forecasting.
- Attain an understanding of the contrasting approaches to growth: market penetration, market development, product development, and diversification.
- Distinguish between the Ansoff matrix and other strategic planning models.
Learning Objectives
- Attain an understanding of the contrasting approaches to growth: market penetration, market development, product development, and diversification.
- Distinguish between the Ansoff matrix and other strategic planning models.
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