Hey there!

While studying business strategy, I came across a very efficient business strategy tool called ‘Ansoff matrix’ which can actually helps businesses to grow and reach out to existing and potential customers.

The tool is so easy to understand and helps in evaluating opportunities for growth.

For further study, you can read through the below link:-

https://www.smartinsights.com/marketing-planning/create-a-marketing-plan/ansoff-model/ 

Good luck!