This Ansoff Matrix Model is a strategic planning tool that provides a framework to assist executives, senior managers, and marketers in developing future growth strategies. It is named after the concept's creator, Russian American Igor Ansoff, an applied mathematician, and business manager. Ansoff defined product-market strategy in his 1957 paper as "a joint statement of a product line and the corresponding set of missions which the products are designed to fulfill." He outlines four options for expanding an organization in existing or new markets with existing or new products. Each option poses varying levels of risk to an organization.