This Growth Strategy Matrix is a tool designed to assist businesses in analyzing, planning, and executing various growth strategies and assessing the risk exposure associated with each one. Igor Ansoff, a Russian-American mathematician, developed the model in 1957 and focused on two specific areas for potential growth. Business owners are encouraged to expand their existing activities and explore new products and markets within each region. The greater the distance between current developments and established markets, the greater the risk. The first segment of the Product Market Expansion Grid is concerned with increasing market share by selling existing products or services.