Horizontal (horizontal) diversification - means expanding the scope of activities by meeting completely new consumer needs and launching completely new products,
Vertical diversification (vertical) - involves total oil and gas company canada whatsapp number taking control of the entire production process and reducing the degree of dependence on suppliers and intermediaries,
parallel diversification - means entering a completely new sector and thus partially changing the company's business profile.
It is also worth considering the choice of marketing strategy from the perspective of the passage of time; after all, the goal of any company's activity is to grow, which requires a certain dynamism and often the decision to change actions undertaken earlier. There are different ways of using the Ansoff matrix and, therefore, different directions for the company. Many companies opt for penetration in order to be able to enter new markets later and then move on to a diversification strategy.
Another popular direction is the so-called "Z-shaped strategy," which involves taking the following actions in sequence: market penetration, new product introduction, entry into new markets, diversification. This strategy shows the "movement" of the company as it "moves" through successive cells of the matrix (taking a Z-shaped path), which is indicative of how the company adapts to changing conditions.