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The product/market matrix (Ansoff)
This tool will help you:
- Clarify whether your growth strategy depends on existing or new products or existing or new markets
- Understand that new products or new markets incur incremental risk
- Beware the compounding of risk by aiming for new products into new markets (and even into new geographies)
About the tool
‘When we’re in a peak, we make a ton of money, and as soon as we make a ton of money, we’re desperately looking for a way to spend it. And we diversify into areas that, frankly, we don’t know how to run very well,’ mused Bill Ford, great grandson of Henry.
Ford’s story is not unique nor new. Igor Ansoff, author of the first book exclusively on corporate strategy in 1965, created his product/market ...
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