This refers to a management tool for developing business growth strategies.
Developed by Igor Ansoff, the matrix provides a framework against which to assess options for market penetration (selling more existing products in existing markets), market development (selling existing products in new markets), product development (selling new products in existing markets) and diversification (selling new products in new markets). The framework emphasises that risk levels increase as the organisation moves away from its core products and markets.
The Ansoff matrix is a term normally found in strategic management and performance management.
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