"The tool can expand the company’s possibilities, open the team’s mind to market opportunities and optimize perspectives in relation to the challenges that arise." — JB
Overview
The Ansoff matrix helps PMs discover and compare the risks associated with growth strategies.
X-axis: Products (Existing, New)
Y-axis: Markets (Existing, New)
The PM identifies in which quadrant their intended path lies in (existing market & new product, new market, new product etc.) and identifies the type of growth strategy needed, as well as its riskiness
In order from low risk to high risk:
Market penetration (existing product, existing market)
Market development (existing product, new market)
Product development (new market, existing product)
Diversification (new market, new product)
