How does Ansoffs matrix apply to these brick clicks busines

How does Ansoff\'s matrix apply to these brick & clicks businesses?

Solution

Answer:

Ansoff developed the Ansoff Matrix in 1957. It offers you a simple and useful way to think about growth.

Ansoff’s Matrix is the incremental increase in risk offered by the five strategies, due to the growing cost with each step beyond market penetration and uncertainty of operating in new markets and industries.

The Matrix outlines four possible avenues for growth, which vary in risk:

    Market penetration.
    Product development.
    Market development.
    Diversification.

Sometimes called the Product/Market Expansion Grid, it shows four strategies you can use to grow. It also helps you analyze the risks associated with each one. The idea is that, each time you move into a new quadrant (horizontally or vertically), risk increases.