Image Source: http://www.mindtools.com/pages/article/newTMC_90.htmSummary:
You all know about 4-box product/market expansion grid, which include Market Development, Market Penetration, Product Development, and Diversification. But some marketers use a nine-box grid for a more sophisticated analysis. This adds "modified" products between existing and new ones (for example, a different flavor of your existing pasta sauce rather than launching a soup), and "expanded" markets between existing and new ones (for example, opening another store in a nearby town, rather than going into online sales). This is useful as it shows the difference between product extension and true product development, and also between market expansion and venturing into genuinely new markets.
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