The Ansoff matrix, also known as the product-market growth matrix, is a strategic planning tool introduced by Igor Ansoff in a 1957 Harvard Business Review article that maps four growth strategies available to a business according to whether it is offering existing or new products into existing or new markets. The four resulting strategies, market penetration, market development, product development, and diversification, are commonly presented as carrying increasing degrees of risk as a company moves further from its existing products and existing markets. The matrix remains a standard reference point in business strategy courses for structuring decisions about how a company should pursue growth.
Facts
Core ClaimThe Ansoff matrix is a strategic planning tool that frames four growth strategies from combinations of existing or new products against existing or new markets. 1 Cross-Tradition Connections
Associated With
The Ansoff Matrix is a strategic planning framework used in marketing practice to evaluate growth strategies across existing and new products and markets.
The Ansoff Matrix and SWOT analysis are commonly taught and applied together as complementary strategic planning tools.
Sources
1. Wikipedia, Ansoff Matrix
WikipediaWikipedia, Ansoff matrix lead sectionQuote, Wikipedia, Ansoff matrix lead section
The Ansoff matrix is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future business growth.
1. Wikipedia, Ansoff Matrix
WikipediaWikipedia, Ansoff matrix Growth strategies sectionQuote, Wikipedia, Ansoff matrix Growth strategies section
Ansoff, in his 1957 paper, "Strategies for Diversification", provided a definition for product-market strategy as "a joint statement of a product line and the corresponding set of missions which the products are designed to fulfill".
1. Wikipedia, Ansoff Matrix
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