Ansoff Matrix

The Ansoff matrix, also known as the product-market growth matrix, is a strategic planning tool introduced by Igor Ansoff in a 1957 Harvard Business Review article that maps four growth strategies available to a business according to whether it is offering existing or new products into existing or new markets. The four resulting strategies, market penetration, market development, product development, and diversification, are commonly presented as carrying increasing degrees of risk as a company moves further from its existing products and existing markets. The matrix remains a standard reference point in business strategy courses for structuring decisions about how a company should pursue growth.