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  7. Product and market are the most important factors driving business growth. The Ansoff Matrix factors in both aspects to create a 2-dimensional matrix that gives rise to 4 growth strategies. The Market Penetration strategy is about focusing on your existing business, your current product or service, and your current segmentation. If you’re picking this strategy then you’re objective is market share growth. The Ansoff Matrix’s market development strategy involves moderate risk with substantial expansion potential. Here, companies aim to grow by introducing their existing products to new markets that they have not done business with yet. The primary task of Product Managers and a company’s leadership is to adopt the right strategy for growth. The Ansoff Matrix is an easy-to-use tool to support this.
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