Question

What are the four quadrants of the product/market expansion grid?

Answer 1

The four quadrants of the product/market expansion grid are: market penetration, market development, product development, and diversification.

Step-by-step explanation:

The four quadrants of the product/market expansion grid are:

1. Market Penetration: This quadrant involves selling more of the existing product to the existing market. It focuses on strategies like advertising, promotions, and price adjustments to increase market share.
2. Market Development: This quadrant involves selling the existing product to a new market. It may involve finding new customer segments or expanding into new geographical regions.
3. Product Development: This quadrant involves selling a new product to an existing market. It may involve introducing new variations or improvements to the existing product line.
4. Diversification: This quadrant involves selling new products to new markets. It may involve entering completely new industries or creating entirely new product lines.