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The Ansoff Product Growth Matrix is a strategic tool that helps businesses decide their product and market growth strategy. It compares to other business growth strategies by providing a structured approach to identify and evaluate opportunities for growth. The matrix consists of four strategies: Market Penetration (existing markets, existing products), Market Development (new markets, existing products), Product Development (existing markets, new products), and Diversification (new markets, new products). Other growth strategies may not provide such a comprehensive and structured approach, and may focus on one aspect of growth, such as customer acquisition, innovation, or expansion.
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This Growth Spending slide includes an Ansoff product growth matrix alongside a comparison table to detail the percentage of spend dedicated to each growth strategy across time. This breakdown reveals areas to increase spend to diversify growth tactics. In an extreme example where one tactic has 0% spend, a pivot could be made to increase spend towards that strategy to increase growth. (Slide 20)
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Has your business growth reached a plateau? Use our Growth Strategy Toolbox to test, execute, and share new growth strategies across the team. Compani...
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