Using market research to develop a product range
A Coca-Cola Great Britain case study

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Page 6: Product development

Ansoff's matrix is a useful tool for examining a company's product range. This compares the alternatives of developing new products and new markets. There are four main options:

  1. Market penetration: selling more of the same types of product to the same types of people.
  2. Product development: building on existing relationships with consumers and on a creative ability to develop new products suited to consumer wants.
  3. Market development: developing an existing product to cater for emerging markets.
  4. Diversification: developing new products for new markets.

Coca-Cola Great Britain | Using market research to develop a product range