Ansoff matrix

The Ansoff matrix supports companies in developing growth strategies as a strategic tool. The Russian-American mathematician and economist Igor Ansoff developed this matrix, which is also known as the product-market matrix. Companies can use the Ansoff matrix to systematically analyze their growth opportunities and make strategic decisions based on this.

Market penetration

The aim of market penetration is to gain more market share for existing products in an existing market and thus serve as a growth strategy. The company focuses on promoting its products to existing customers or gaining new customers in the current market. This may be through advertising, price promotions or customer service improvements. Companies can increase their sales through market penetration without having to develop new products.

Market development

With the market development strategy, a company tries to open up new markets for its existing products. Opening up new geographical regions, launching products in new sales channels or addressing new target groups - all of this can be achieved. Companies can increase their sales potential and diversify risk by being present in new markets. This is due to market development.

Product development

The product development strategy involves creating new products or improving existing products to better meet the needs of customers. Product innovations can increase the competitiveness of companies and open up new sources of revenue. This usually requires investment in research and development as well as thorough market analysis to ensure that the new products meet market requirements.

Diversification

The strategy of diversification involves developing new products for new markets. There are two types of diversification: diversification of relatives and non-relatives. In related diversification, the new products or markets remain thematically related to the company's existing business areas. In contrast, unrelated diversification involves entering completely new business areas that have no connection to the company's existing activities. Diversification can spread the risk and develop new growth opportunities, but it also entails increased challenges in terms of market knowledge and resource allocation.