The Ansoff Matrix offers four strategies for growing a business, considering products and markets. We can use this model in strategic planning to get an overview and evaluate growth potential. However, there are some risks inherent in each
Product development
Ansoff Matrix: Importance, Four Strategies
What's it: The Ansoff matrix shows you four marketing strategies available based on product and target market considerations. Igor Ansoff, a Russian American mathematician, developed it and published it in a Harvard Business Review article