In marketing, Ansoff’s Matrix help to analyse

In marketing, what does Ansoff's Matrix help to analyse?

1. Business Structure

2. Gearing

3. Growth Planning

4. Product Portfolio

Correct Option: Option C,

Growth Planning

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The Ansoff Matrix, also called the Product/Market Expansion Grid, is a tool used by firms to analyze and plan their strategies for growth. The matrix shows four strategies that can be used to help a firm grow and also analyzes the risk associated with each strategy.

The matrix was developed by applied mathematician and business manager H. Igor Ansoff and was published in the Harvard Business Review in 1957. The Ansoff Matrix’s helped many marketers and leaders understand the risks of growing their business.

The four strategies of the Ansoff Matrix are:

1. Market Penetration: It focuses on increasing sales of existing products to an existing market.
2. Product Development: It focuses on introducing new products to an existing market.
3. Market Development: Its strategy focuses on entering a new market using existing products.
4. Diversification: It focuses on entering a new market with the introduction of new products.