This tool helps to identify alternative growth strategies. By plotting existing and potential products and services in a matrix you can work out what to develop and how to do it. For example, do you need to simply market your existing products to existing customers more effectively or do you need to develop new products for new customers, or a combination of these options.
It is well worth considering this before launching into developing a new product/service.
Information about an Ansoff matrix can be seen at www.quickmba.com/strategy/matrix/ansoff/
Download a blank version of an Ansoff matrix to complete Blank Ansoff Matrix
