A company should focus on increasing the market share of its current best-selling products or services by increasing its efforts in sales, marketing, and other such strategies.The four main objectives of market penetration are: In Market Penetration, an organization focuses on expanding the sales of the existing products. 4 Quadrants (Strategies) of the Ansoff Matrix 1 Market Penetration The product quadrant on the x-axis consists of existing products, new products, and new services, and the market quadrant on the y-axis includes existing and new markets. We create an Ansoff Matrix on two axes: Market and Product & Services. The 4 Quadrants of the Ansoff Matrix: Explained with ExamplesĪnsoff Matrix is a marketing tool designed to analyze and plan marketing strategies by a company to avail all the forthcoming opportunities. Diversification: How can businesses tap into new markets by launching new products and services? Moreover, how can a business thrive by introducing these products to their existing customer base and bringing new leads onboard?Ģ.Product Development: How can a team within an organization come together to create new products and services to increase their revenue?.Market Development: How can a bootstrapped business enter a highly competitive market?.Market Penetration: How can a company sell more of its existing products to its existing customers?.Just like a BCG Matrix, an Ansoff Matrix is important to understand several strategic questions, like: Igor Ansoff developed the Ansoff Matrix in 1957 to help business leaders achieve significant results in the ever-changing market. Several business analysts create an Ansoff Model to identify the growth opportunities through developing new products and services.

Ansoff Matrix, also referred to as Product/Market Expansion Grid is a business framework that helps marketing leaders learn and analyze the business growth opportunities for their different marketing segments in a volatile market.

Ansoff matrix bcg