The IE Matrix Evaluation indicates that the position of the business

is in cell 5 which means hold and maintain. Hence, the business

should perform tactical strategies focusing more on market
penetration and product development.
Market penetration will determine the size of the potential market.
It can be broken down into several tactics that must be aligned with
favorable market conditions. This could evaluate the potential of the
business to increase its sales. The strategy is to focus on the
customer’s usage of products and services that the industry offers
and how many customers purchase the business product instead of other
competitors within the industry.
Product development entails expansion which involves development of
new and improved products for current market conditions. This
strategy concentrates in providing necessary changes in its existing
products as well as developing new products to administer the
feedback of the customers about their certain likes and dislikes.
Introduction of new products which increases the sales and the market
share will drive a potential business growth