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Essay heading: Ansoff Matrix
 
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Issue: Business
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Date added: August 27, 1998
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No of pages / words: 2 / 479
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However, the product is not altered and company does not seek any new customers. Product development is a growth strategy where a business aims to introduce new products into existing markets. Company develops and innovate new product offerings to replace existing ones. Such products are then marketed to company existing customers...
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Such products are then marketed to company existing customers. This often happens with the auto markets where existing models are updated or replaced and then marketed to existing customers. Market development is a growth strategy where the business seeks to sell its existing products into new markets...
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