The Ansoff Matrix

28 Dec The Ansoff Matrix

Ansoff is a product marketing strategy.

There are 4 growth alternatives for growing an organization in existing or new markets with existing and new products

1. Market Penetration 

( Existing Market Existing Product )

– increase market share in the existing segment, a low-risk option

2. Product Development

( Existing Market New Product )

– innovation that makes a different product in the same market

– little risk but easy to sell

3. Market Development

( New Market Existing Product )

– a new market for your existing product is a good opportunity, but try to find a similar market along with accessibility to handle with the present team.

– strong PR, promotion and marketing needed to turn other customers to your brand

4. Diversification

( New Market New Product )

– high funds and high risk and high profit associated

– need strong in R & D skills

– need strong in Sales & Marketing