Horizontal Market Expansion

Horizontal market expansion is when a company grows by offering its existing products or services to new customer groups or geographic areas that it previously did not serve. Instead of developing new products, the company focuses on reaching more people or locations with what it already does well. For example, a local coffee shop opening new branches in different neighborhoods or countries to attract more customers illustrates horizontal expansion. This strategy aims to increase sales, market presence, and overall business size by tapping into additional markets with the same offerings.