The Ansoff Model Using The Ansoff Matrix to identify growth opportunities What is the Ansoff Matrix? This model is essential for strategic. The Ansoff Matrix was developed by Igor Ansoff and initially published in the Harvard Business Review. It is a core business strategy tool. The product-market matrix proposed by Igor Ansoff offers four growth strategies based on existing and new markets and products.

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This article explains the Ansoff Matrix by Igor Ansoff in a practical way. After reading you will understand the basics of this powerful marketing strategy tool.

Using The Ansoff Matrix to Develop Marketing Strategy

When an organization wants to grow, it is important to take the right steps. The Ansoff Matrix was developed by strategy professor Igor Ansoff in the s.

The idea behind the Ansoff Matrix is simple; a company or organization gains a clear insight into the possible growth strategies based on the combination of existing and new products and existing and new markets. These could also be services instead of products. The term market is aimed at concrete markets as well as various target groups.


Ansoff Matrix

In addition, the Ansoff matrix should always be considered from the perspective of the organization. Igor Ansoff indicated that growth takes place step by step. He said that diversification can only be opted for after you have gone through matrjx market penetration, product development and market development steps. Sell a new product to an existing market; renew and improve the product range to attract more customers.

Sell a an existing product to a new market, present own product range in a different manner, for example on the internet, abroad or through a franchise of another company. Sell a new product to a new market; tap into a different market with a new product range parallelization is an example of this.

As the growth strategy shifts from existing products and markets within the Ansoff matrix to new products and markets, the risks will be increased for the organization. A new market needs to be explored and it takes time before new target groups have familiarized themselves with the products of a new provider. Igor Ansoff pointed out that diversification therefore stands anxoff from the other three strategies. What do you think? Do you recognize the practical explanation or do you have more suggestions?


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Using The Ansoff Matrix to Develop Marketing Strategy

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