Four ways to grow

Ansoff Matrix/Ansoff Model

The Ansoff Matrix, developed by H. Igor Ansoff, is a fantastic tool to plan product-market strategy, contributing to the growth and future success of your organisation. Quickly and easily invite your team and get all your strategies down fast. The Ansoff Matrix gives you the structure to decide on which growth strategies work for your organisation now.

GroupMap provides you with a safe, secure and private canvas for your team to brainstorm, plan and make decisions, whether you’re in the same room or around the world. The result is a clear and concise snapshot of your team’s ideas, enabling a deeper level of discussion in your meetings.

What is the Ansoff Matrix/Ansoff Model?

The Ansoff Matrix provides an easy to follow framework for teams to explore how different products and services fit into the organization’s growth strategy. It comprises of four categories.

Market Penetration: Growth is achieved using existing products in existing markets. This means selling at higher volumes, or finding new channels in the existing market.

Market Development: Growth is achieved by taking existing products into new markets. Examples include selling to different customer segments, selling a consumer product to industry, or entering foreign markets.

Product Development: Growth is achieved by creating new products for an existing market. This may involve researching and developing a new product to meet unfilled needs of the current customer base.

Diversification: Growth is achieved by creating new products or services for new markets and represents additional product lines for new profiles of customers.

Process

Step 1 – Select the Ansoff Matrix from the template menu. Set the rules that reflect how you want to run your session, and then click on create map.

Step 2 – Invite the team to the map via password, link or email. Ask the team to populate the map under each heading. E.g. If the company normally supplies chocolates for teenagers, they way wish to take an existing product line and rebrand it for the adult market under market development.

Step 3 – Taking a look at each of the lists, you can prioritise each of them by dragging and dropping ideas within the list. You can do this as a team (collaborative) or individually. Positioning ideas individually will allow you to see whether there is consensus in the room.

Step 4 – Looking at the top strategies in each list, you can add action items and plan out steps for executing the strategy.

Step 5 – In the results stage, GroupMap combines all of the teams input into one including any action items. Use the completed Ansoff’s Matrix to help align your teams focus and energies across each of the strategies.

Optional: Turn on the dot voting stage and use that to narrow down the top strategies by asking the team to discuss and vote on the strategies they believe will have the biggest impact for the organization.