Hofer's product market evolution matrix
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Hofer matrix is one of the tools used to determine the assessment of the Competitive position of the company, as determined by its internal and external factors.
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Hofer's product market evolution matrix is a revised version of the ansoff matrix that was developed in 1957 as a business tool.
Hofer's product market evolution matrix is also a business tool that helps people to know the growth statistics of their business.
The growth of any business depends whether new or existing products are being taken into the new market or not.
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