The Ansoff Matrix

Written By Colour Infusion

The Ansoff Matrix was developed by H. Igor Ansoff and first published in the Harvard Business Review in 1957. It is a strategic planning tool to work with a diversified market and to strategize as you grow or your market has different needs. Plan and evaluate growth initiatives.

This tool will help assess what is easy implementation and what will be harder, and take more time, as well as what is low or high risk.

Each box of the Matrix corresponds to a specific growth strategy. They are:

  1. Market Penetration – Increasing sales of existing products into an existing market

  2. Market Development – Selling existing products into new markets

  3. Product Development – Introducing new products to an existingmarket

  4. Diversification – Entering a new market with altogether new products

Download our work pdf.

Colour Infusion

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https://colourinfusion.ca
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