FREE 10+ Ansoff Matrix Samples in PDF | MS Word

These days, various startup companies are introducing different business strategies to grow a business. There is no doubt that it can work for particular firms. However, it does not mean that it works for all businesses. That is why some businesses still use existing and proven business tools, such as the Ansoff Matrix, which we are going to discuss in this article. We also included Ansoff matrix examples which you can use as a reference if you are planning to develop a business strategy out of this business tool.

These days, various startup companies are introducing different business strategies to grow a business. There is no doubt that it can work for particular firms. However, it does not mean that it works for all businesses. That is why some businesses still use existing and proven business tools, such as the Ansoff Matrix, which we are going to discuss in this article. We also included Ansoff matrix examples which you can use as a reference if you are planning to develop a business strategy out of this business tool.

What Is the Ansoff Matrix?

Created by a Russian-American business manager and applied mathematician, Igor Ansoff, Ansoff Matrix is a business tool that marketers, senior managers, and executives use to strategically analyze and develop a business growth plan. This business concept basically shows a table with four sections, namely, market penetration, product development, market development, and diversification. The author of the strategy, Ansoff, explained that there are two ways to tackle business growth. It is either by adjusting the product or the market. This thought gave him the idea to develop this business strategy.

The Four Strategies of Ansoff Matrix

As mentioned earlier, the Ansoff Matrix consists of various sections. Ansoff considered these sections as the four growth strategies, which we will discuss one-by-one in this section.

1. Market Penetration

Among all the Ansoff matrix strategies, market penetration holds the least risks. If you are aiming to increase the sales of your existing products, this strategy may be the one that you need. To achieve it, you can lower the prices of your products to gain back the previous customers and attract new ones. You may also enhance the promotion of the products or your distribution strategy. Another way of increasing your sales is to acquire your competitor, just like what the Coca-Cola company did. American multinational corporation acquired companies, such as Minute Maid and Fuze Beverage, to increase their market share in the current industries.

2. Market Development

Through market development, you will enter a new market with your existing products to expand your market coverage. Expanding the market may include opening store branches to other states or countries. McDonald’s is an excellent example of this type of strategy. This strategy, however, can be more effective if you own a proprietary technology, which you can use as your competitive leverage in terms of marketing. McDonald’s, for instance, acquired Apprente, an artificial intelligence (AI) company, which helps automate the fast-food chain company’s drive-thru service, decreasing the required time to complete an order. It can also be beneficial if your target market is actually profitable. Meaning, they have disposable income.

3. Product Development

In this strategy, to attain business growth, you will produce new products to serve the existing market. This strategy, however, may involve other significant steps aside from the development of the product, such as conducting market research. By doing these steps, you will get a better understanding of the market.

4. Diversification

Some businessmen considered diversification as the riskiest strategy since it involves the introduction of a new product to a new market. However, you can actually prevent these risks since this strategy requires market and product development to implement fully.

10+ Ansoff Matrix Samples

Now that you know what an Ansoff matrix is, let’s take a look at the following Ansoff matrix examples. You can download these documents in PDF and MS Word formats for free!

1. Ansoff Matrix Sample

2. Ansoff Matrix Analysis Sample

3. Basic Ansoff Matrix Sample

4. Corporate Ansoff Matrix Template

5. Standard Ansoff Matrix Template

6. Ansoff Matrix in PDF

7. Ansoff Matrix of Growth Strategy Template

8. Printable Ansoff Matrix Sample

9. Ansoff Matrix Pain and Gain Template

10. Ansoff Matrix Template in DOC

11. Ansoff Growth Matrix in DOC

How To Use an Ansoff Matrix

Using the Ansoff Matrix in your business can be confusing. That is why we included the following steps. Read these steps before you apply this tool in your business to ensure its accuracy.

1. Decide What Strategy You Are Going to Use

As discussed earlier, there are four strategies that you can use to grow your business. The first thing that you are going to do is to decide which one you will focus on. Use the information that we have discussed in the previous section as your reference in choosing the initial strategy that you want to concentrate on.

2. Manage the Risks

In this step, you will expand your understanding of the linked dangers to each option. To do it, you will need to conduct a risk analysis. This tool will help you determine the risks involved in the strategy that you select. After that, you will address the uncovered risks by creating a contingency plan for each potential risk.

3. Do the Same Process to the Other Strategies

This step is optional. If you have not decided which option you want to use for your business, then this step is for you. Do the same process to the other three boxes of the table.

4. Choose the Best

By now, with the risks and benefits, each of the strategies can give you should have an idea of which one will work for your business. For better decision-making, we recommend that you ask help from your team by letting them review the table that you have created and encourage them to leave feedback.

Each business strategy can have distinct characteristics, allowing you to determine if an approach is the right one to use for the growth of your business, just like the Ansoff Matrix. Now that you have reached the end of this article, you should have an idea of whether or not this business tool will give your company the desired results. If you think that it will not, you must remember that it is not a dead end. There are so many tools out there that you can use, especially from the internet. You can start by reading our article about Boston Consulting Group analysis (BCG Matrix) or the Boston Matrix.