X-axis Expansion Strategy
An X-axis Expansion Strategy is a strategic approach focusing on broadening the range of products, services, or markets a startup operates in, visualized as expanding along the horizontal (X) axis to explore new areas of growth and diversification.
Benefits
An X-axis expansion strategy broadens product or market range, visualizing growth horizontally.
Frequently Asked Questions
What is an example of a horizontal diversification strategy?
An example of a horizontal diversification strategy is a company expanding its product line to include new products similar to its current offerings, targeting the same market.
What is vertical diversification and horizontal diversification?
Vertical diversification involves expanding into different stages of the production process, while horizontal diversification involves expanding into new products or markets at the same stage.
What are the 4 basic strategies for product market expansion?
The 4 basic strategies for product market expansion are market penetration, market development, product development, and diversification.
Key Takeaway
An X-axis expansion strategy visualizes growth by broadening a startup’s range of products or markets.