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Ansoff Market Grid – Business Development Opportunities

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The Ansoff Market Grid is a model that has proven to be very useful in business unit strategy process to determine business growth opportunities. The Market Grid has two dimensions: Products/Services and Markets.

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Ansoff Matrix > ISI – Ideographic Strategies Inc.

MARKET PENETRATION (CURRENT PRODUCTS / SERVICES IN EXISTING MARKETS)

What: Increase Market Share – Sell current products/services in existing markets
Why: Re-establish relationships with past clients (over one year.) Turn incidental clients into regular clients, and regular client into heavy volume clients.
How: Competitive Phase Approach, Innovative Products/Services, Long Term Agreements, Value-Adding, Marketing and Advertising Campaigns, Tradeshows, Presentations. Market Research Investment, CRM (Customer Relationship Management), Surveys, etc.

MARKET DEVELOPMENT (CURRENT PRODUCTS / SERVICES IN NEW MARKETS)

What: Sell current products/services in new markets
Why: Strive to entice clients away from your competitors, or introduce existing products/services in new markets. New markets can be geographic or functional, such as when we sell the same product/service for a new division within the same organization.
How: Brand Marketing Strategy – Modifications require customization

Build Brand Alliances/Partnerships – Better Networking
Adding Value to Brand – Brand marketing and awareness campaigns, tradeshows, 1-to-1 presentations

PRODUCT / SERVICE DEVELOPMENT: (NEW PRODUCTS / SERVICES IN EXISTING MARKETS)

What: Sell new products/services in existing markets.
Why: Promote other services to the current target market; value-added or introduce completely new services
How: Cross-selling (Vertical Integration) through existing communication channels. Quality Assured Programs, Models, Gated Systems, Training and Seminars, Team Selling, etc.

DIVERSIFICATION (NEW PRODUCTS / SERVICES IN NEW MARKETS)

What: Sell new products/services in new markets.
Why: Branch out into new markets with new products/services to reinvent offering
How: Co-brand with strategy alliance, become acquired and join large corporation, aggressive marketing strategy including cold calls

ACTION PLAN :

1. Identify Priorities
2. Define Measurable-Results and Set Budget
3. Determine ROI within an Established Time-frame

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