What is true about the strategies in Igor Ansoff’s matrix?
This is correct. Entering a new market with existing products is usually riskier than keeping on selling these products in existing markets. It might, for example, be the case that these products are not accepted by new markets.
This is exactly the definition of “product development” in Igor Ansoff’s matrix.
This is true. Since “protect/build” means that a firm serves existing markets with existing products, this strategy intends to stabilize the firm’s position.
This is exactly the definition of “market development” in Igor Ansoff’s matrix.
As explained in the lecture “diversification” can be product-related, technology-related or conglomerate diversification.
“Diversification” is the least risky strategy.
