Ansoffs Matrix

Ansoff’s Matrix

A tool used by businesses with growth objectives to identify appropriate corporate strategies and assess associated risks.

Market penetration

Strategy involving selling more products to existing customers to increase product usage and brand loyalty.

Market development

Strategy focusing on finding new market opportunities for existing products by entering new markets or targeting different customer profiles.

Product development

Strategy involving selling new or improved products to existing customers through upgrades, redesigns, or relaunches.

Diversification

Riskiest growth strategy targeting new customers with entirely new or redeveloped products, such as launching new product lines or entering new industries.