1. Market Penetration:
Assume Cadbury Company who produces different types of chocolates. They bring just some changes in their existing product and try to gain revenue from the market. Like producing Cadbury celebrations where chocolates inside the box are same but just brought some changes in its packaging. So here the product and market of Cadbury Company is same, but just brought some minor changes in their existing product.
2. Product Development:
Let’s take example of Samsung Company. We can see much diversification and many new launches of mobile phones. So, here their market is same but brought up new products in the market to gain revenue.
3. Market Development:
Companies like Walmart and Apple. They have same product and same concept but brought up in India. So their product is same but they brought their product into the new market.
4. Diversification:
A Company like Godrej. They initially used to produce products like hair dye, locks etc. But, they started new business of Godrej poultry farms. So, here they will get new set of customers where product and market both are new.