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Harvard Business Review outlined a matrix to evaluate new markets for possible expansion. Briefly, the matrix ranks three metrics: The size of a new market compared to other markets. Sources: Thomson Financial and the Institute for Mergers, Acquisitions and Alliances. Factors to consider when evaluating expansion potential.
Factors to consider when evaluating expansion potential Harvard Business Review outlined a matrix to evaluate new markets for possible expansion. Briefly, the matrix ranks three metrics: The size of a new market compared to other markets. Sources: Thomson Financial and the Institute for Mergers, Acquisitions and Alliances.
The Ansoff Matrix , named for its strategist creator Igor Ansoff, can be a helpful tool as you evaluate growth opportunities. Such as UK-based money app Cleo’s expansion into the United States : Cleo’s marketing team might test actions like: Regional or global expansion. Expanding into foreign markets or untapped domestic markets.
This collaborative approach helps refine the strategy and build alliances, ensuring that it receives support from top management. A prioritization matrix can be used to rank gaps, highlighting those that require immediate attention versus those that can be addressed over a longer time frame.
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