Ansoff Matrix

What is the Ansoff matrix?

The Ansoff matrix (aka Ansoff model – four ways to grow), 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.

Ansoff matrix template

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

Existing Markets / Existing Products
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

New Markets / Existing Products
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

Existing Markets / New Products
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

New Markets / New Products
Growth is achieved by creating new products or services for new markets and represents additional product lines for new profiles of customers.

How to run an Ansoff matrix workshop

The time required to construct an impact effort matrix depends on the organization, the size of the group, and the objectives of the session. However, there is no reason why you can’t brainstorm, prioritize, and develop a consolidated action plan in less than an hour.

Objectives

Define a clear, one sentence objective for the Ansoff matrix.

Brainstorm

Gather input and ideas.

Position

Review each of the products and position them in the correct quadrant, in priority order.

Action Planning

Identify action items for the highest top products in each quadrant. Create an action plan and assign responsibility for each issue to a group or individual for action.

Share and Communicate

Share and communicate the outcomes of the session, including the action plan to relevant stakeholders.

Cross Device Compatibility

Save effort, time and money with GroupMap

Whether you have your best minds together in the same room, or distributed around the world, GroupMap’s unique technology allows groups of up to 2000 to submit ideas independently at separate times, from different places, in different timezones. Prevent dominant personalities swaying the group, drowning out the opinions of others – GroupMap allows everyone to brainstorm independently then effortlessly combines that information to reveal the full spectrum of ideas. GroupMap templates keep the objective front and center throughout the session, keeping everyone on task. This ensures the activity identifies actionable issues rather than becoming just a discussion on ideas. GroupMap gives you all the group decision making tools you need to prioritize, decide and take action.

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