TASK 2
Opportunity Matrix - The Opportunity Matrix refers to the possible growth opportunities a
company has with current or new products and markets.
Market Penetration
Market penetration is used by companies if they want to achieve progress and growth with their
existing products in their current market segment in order to increase their market share. This
strategy of market penetration has minimum risk because it leverages a company’s many existing
capabilities and resources.
Market Development
Market development involves growing by targeting a company’s current merchandises to new
market segments. Developing new markets for a product could be an excellent strategy if the
core competencies of the company are connected more to a particular product than to experience
with a particular market segment. Since a company is broadening into a newer market, market
development strategies usually have more risk compared to a market penetration strategy.
Product Development
Product development targets a company’s existing market segments by developing new products.
This strategy might be suitable if the company’s strengths are linked to their specific consumers
instead of to a specific item or product themselves. In these circumstances, a company can
Opportunity Matrix - The Opportunity Matrix refers to the possible growth opportunities a
company has with current or new products and markets.
Market Penetration
Market penetration is used by companies if they want to achieve progress and growth with their
existing products in their current market segment in order to increase their market share. This
strategy of market penetration has minimum risk because it leverages a company’s many existing
capabilities and resources.
Market Development
Market development involves growing by targeting a company’s current merchandises to new
market segments. Developing new markets for a product could be an excellent strategy if the
core competencies of the company are connected more to a particular product than to experience
with a particular market segment. Since a company is broadening into a newer market, market
development strategies usually have more risk compared to a market penetration strategy.
Product Development
Product development targets a company’s existing market segments by developing new products.
This strategy might be suitable if the company’s strengths are linked to their specific consumers
instead of to a specific item or product themselves. In these circumstances, a company can
