Ansoff’s Matrix Your Growth Strategy Roadmap
Understanding Ansoff’s Matrix: A Framework for Growth
Ansoff’s Matrix, also known as the Product/Market Expansion Grid, is a strategic planning tool used by businesses to identify and analyze growth opportunities. It’s a simple yet powerful framework that helps companies chart their course for expansion by considering the relationship between their existing products and new markets. Essentially, it guides businesses on how to grow by strategically aligning their product offerings with their target markets. Understanding this matrix is crucial for making informed decisions about future growth and resource allocation.
The Four Key Growth Strategies
The matrix is based on four key
