Ansoff matrix

• What were the 4 ways businesses could choose their marketing strategy according to Ansoff ?

  Existing product / service in existing market - market penetration (low risk)

  New product / service in existing market - product development(medium risk)

  Existing product / service in new market - Market development(medium risk)

  New product / service in new market - related / unrelated diversification - (high risk)
• What does Ansoff matrix help to identify?

  Potential new markets or marketing strategies for a business
• Limitations of Ansoff 's matrix?

  Oversimplifies the market

  Does not give the whole picture of the market

  Large MNC's may need thousands of options and strategies