Homework Answers
Opportunities for Har-Tru:
- Market development: This approach is used while the business is entering a new audience with existing products. Har-Tru can expand in foreign markets to increase their growth. Showing the benefits of the products in new markets might attract new customers.
- Product Development: Product development relates to businesses that have a strong market share of an existing segment and may then continue to launch new goods to grow. Here, Har-Tru can introduce a new product line to cater to a wide range of customer thus increasing the profits.
- Diversification: The diversification strategy in the Ansoff matrix applies when the product is completely new and is being introduced into a new market. Har-Tru can launch its own Tennis rackets as well as balls and other related products to increase its profitability.
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