Product-Market Growth Matrix

The Product-Market Growth Matrix or Ansoff Matrix is a strategic planning tool developed in 1957 by Igor Ansoff to help firms recognize if there was any advantage to entering a market. [1]

The four growth strategies in the Product-Market Growth Matrix are:

  • market penetration (existing markets, existing products)
  • product development (existing markets, new products)
  • market development (new markets, existing products)
  • diversification (new markets, new products)

References

  1. Farris, Paul W.; Neil T. Bendle; Phillip E. Pfeifer; and David J. Reibstein (2010). Marketing Metrics: The Definitive Guide to Measuring Marketing Performance (Second Edition). Upper Saddle River, New Jersey: Pearson Education, Inc.

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