What is the aim of Option 2 in the Ansoff matrix?

Unlock all questions

This demo includes only 20 questions. Upgrade to access hundreds of questions, flashcards, exam simulations, and disable ads.

Full question bankExam simulationsFlashcards
From $25.99Unlock all

Study for the IBDP Business Management Test. Engage in quizzes with flashcards and multiple choice questions. Each question offers insights and explanations. Prepare thoroughly for your exam!

Multiple Choice

What is the aim of Option 2 in the Ansoff matrix?

Explanation:
The move described—exporting an existing technology to a neighboring country—illustrates growing by reaching a new geographic market with an existing product. In the Ansoff matrix, this is Market Development: you use the current offering to attract new customers in a different country or region, expanding sales without changing the product itself. This is distinct from product development (creating a new product for existing customers), market penetration (selling more of the current product in the same market), or diversification (new product in a new market). So exporting to a new market best fits the Market Development approach.

The move described—exporting an existing technology to a neighboring country—illustrates growing by reaching a new geographic market with an existing product. In the Ansoff matrix, this is Market Development: you use the current offering to attract new customers in a different country or region, expanding sales without changing the product itself.

This is distinct from product development (creating a new product for existing customers), market penetration (selling more of the current product in the same market), or diversification (new product in a new market). So exporting to a new market best fits the Market Development approach.

More Multiple Choice Questions
Subscribe

Get the latest from Passetra

You can unsubscribe at any time. Read our privacy policy