How to Use the Ansoff Matrix to Grow Your Business

If growth is on your agenda, the Ansoff Matrix is a proven tool to explore your options. Developed by Igor Ansoff, this 2x2 framework helps you decide how to expand — by changing your products, your markets, or both.

The Four Growth Strategies:
1. Market Penetration – Sell more of your existing products to current customers
2. Market Development – Find new customers or enter new markets
3. Product Development – Introduce new products to existing customers
4. Diversification – Launch new products in new markets (highest risk)

Each quadrant balances risk and reward. Market penetration is low-risk and often the first step. Diversification, though full of potential, demands serious research and resources.

How to apply it:
- Review your current position
- Evaluate opportunities in each quadrant
- Identify your growth priorities
- Develop specific actions for each strategy you pursue

Our Ansoff Matrix templates are availabile for Excel, Ms-Word and PowerPoint includes step-by-step prompts and examples to help you evaluate each option and plan your next move with clarity.

Ready to grow? Start with our Ansoff Matrix templates — available now in the Strategic Planning section of our store.

19th Aug 2025 Patrick Divilly, Business Tools Store

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