The Ansoff Matrix offers several benefits, including:
Brainstorm potential moves and place them in the appropriate quadrants. ansoff
| Strategy | Product | Market | Risk Level | Why? | | :--- | :--- | :--- | :--- | :--- | | | Existing | Existing | Low | You know the product and the customer. | | Market Dev. | Existing | New | Medium | You know the product, but not the new market dynamics. | | Product Dev. | New | Existing | Medium | You know the customer, but product creation/R&D is uncertain. | | Diversification | New | New | High | You are starting from scratch in both product and market knowledge. | | | Market Dev
Moving into a field that has some synergy with your current business (e.g., a leather shoe maker starting to make leather handbags). | New | Existing | Medium | You