What’s inside Ansoff MatrixTemplate:
- The Ansoff Matrix, also called the Product/Market Expansion Grid, is a tool used by firms to analyze and plan their strategies for growth.
1 🚀 Market penetration
A low-risk option, market penetration focuses on boosting sales of your product in your existing market.
2 🔨 Product development
A bit more risky, product develoment means introducing a new product into your existing market.
3 🛒 Market development
Even riskier, you’re now launching an existing product in a new market. This means making your product as unique as possible to stand out amongst competitors.
Riskiest option, you’re now introducing a new product into a new market.