What does Ansoff matrix mean?

Ansoff matrix meaning in Law Dictionary

The marketing campaign that connects strategy with its path in four directions. The market is penetrated and created. Than a product is developed and diversified.

Ansoff matrix meaning in Business Dictionary

Strategic advertising and marketing planning tool that backlinks a strong's online strategy with its basic strategic direction and gift suggestions four alternate development strategies as a table (matrix). These methods are seeking growth: (1) Market penetration: by pushing existing products within their economy portions. (2) Market development: by developing brand-new areas when it comes to present services and products. (3) item development: by establishing services when it comes to present areas. (4) Diversification: by establishing new items for new markets. Named following its creator, the father of strategic administration, Igor Ansoff (1941- ), and first published in 1957 in Harvard company review.