Origin: Igor Ansoff, 1957. It's like a compass for businesses to navigate their growth journey!

• 🎯 Goal: Boost sales of current products in the same market.
• 🍔 Real-world example: Netflix! Ever heard of "The Crown" or "The Queen’s Gambit"? Netflix aired these shows to make viewers stick around, aka. building brand loyalty.

🔑 Success Factors

• Market growth potential (Is the pie growing?)
• Strength of customer loyalty (How sticky are your customers?)
• The muscle of competitors (Can you out-flex them?)

💭 Remember: Safest growth option, but it's like trying to get a bigger slice of the same pie. Yummy, but limited!

• 🎯 Goal: Find fresh markets or segments!

🍔 Real-world blunders

• Starbucks in Australia? More like Star-bust! 😅
• Walmart in Germany? Germans said, "Nein danke!" They loved their own superstores too much.

🔑 Risk-Reduction Tactics

• Top-notch market research (Know before you go!)
• Local knowledge (When in Rome, ask the Romans!)
• Solid distribution channels (Can you get your goodies to the customers?)

💭 Remember: Riskier than market penetration. It's like opening a new bakery in an unfamiliar neighborhood.