What is the Ansoff Matrix and how is it used in gap analysis?

The Ansoff Matrix is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future growth. It is divided into four quadrants - Market Penetration, Market Development, Product Development, and Diversification. Each quadrant represents a different strategy for growth. In gap analysis, the Ansoff Matrix is used to identify strategic options to bridge the gap between the current state and the desired state. For instance, if the gap analysis reveals a need for new markets, the Ansoff Matrix might suggest a market development or diversification strategy.

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You can enlist additional frameworks to conduct a gap analysis. For instance, the Ansoff Matrix hones in on the strategies you need to employ across four sets of circumstances. Use market development strategies to expand into a new market with an existing product, Use a market penetration strategy to increase market share with an existing product in an existing market. To develop a new product into a new market, utilize diversification strategies. When you want to develop a new product in an existing market, use product development strategies. (Slide 19)

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Gap Analysis (Part 2)

How do you get from where you are now to where you want to be? Use our Gap Analysis presentation to assess and bridge the gap between your team's curr...

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