GV is a manufacturer and retailer of high quality suede gloves. GV makes all of its sales in country F, and is extremely profitable. After many successful years trading, GV has accumulated significant cash reserves and would like to grow the business organically. After some investigation work, GV has discovered an opportunity to sell leather shoes in country P. Which of the following strategic directions is GV taking if it pursues this opportunity, according to Ansoff's product / market matrix?

Question

Quizplus · Accepted Answer

GV is pursuing related diversification by expanding into a new product line (leather shoes) while entering a new market (country P), which is different from its existing market and product line.

GV Is a Manufacturer and Retailer of High Quality Suede