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EXISTING PRODUCT NEW PRODUCT +--------------------+--------------------+ | | | EXISTING MARKET| Market Penetration |Product Development | | | | +--------------------+--------------------+ | | | NEW MARKET | Market Development | Diversification | | | | +--------------------+--------------------+ 1. Market Penetration (Existing Product, Existing Market)
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Igor Ansoff’s 1965 book, Corporate Strategy: An Analytic Approach to Business Policy for Growth and Expansion Igor Ansoff’s 1965 book, Corporate Strategy: An Analytic
Offering new products in new markets—the highest-risk strategy. Why Ansoff's 1965 Work Remains Relevant Igor Ansoff’s 1965 book
His 1965 book was the first comprehensive text to concentrate entirely on corporate strategy and remains one of the classics of management literature. Drawing on his experiences at Lockheed, Ansoff developed a set of theories and models to help managers make systematic strategic decisions in the face of increasing competition and environmental turbulence.