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Ansoff Matrix Model

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Published on 2022-08-30
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This Ansoff Matrix Model is a marketing planning model that can assist a company in determining its product and market growth strategy. According to Ansoff's market growth matrix, a company's attempts to grow are dependent on whether it markets new or existing products in new or existing markets. The Ansoff product/market matrix produces a series of suggested growth strategies that guide the business strategy. The Market penetration refers to the growth strategy in which a company focuses on selling existing products into existing markets. A market penetration marketing strategy is "going about business as usual." The company is concentrating on markets and products that it is familiar with.
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