Ansoff Matrix: What It Is and How It Works [Video]

By , on 27 March 2024

The Ansoff Matrix is a sales and marketing strategy used to identify the most suitable path for expanding and growing a business based on the product (new or existing) to be marketed and the market (new or existing) in which it will be marketed.

This marketing strategy is also known by other names such as market expansion grid, growth vector, Ansoff’s growth matrix, or product-market matrix. However, be aware that if you hear any of these terms, they essentially mean the same thing.

We also want you to know that, even though upon hearing these concepts you might immediately think of something complex and intricate, the reality is that it is a very simple strategy that any entrepreneur or company can implement in their business. That’s why, in this article, we’re going to tell you everything you need to know about the Ansoff Matrix to put it into practice and thoroughly understand how it works.

Origins of the Ansoff …