Developed by mathematician and business manager Igor Ansoff, it assumes a growth strategy can be derived by whether the market is new or existing, and the product is new or existing. Ansoff Matrix You can use the Ansoff Matrix as a strategic framework to understand what growth strategy is more suited based on the market context. It divided products into four categories: cash cows, pets (dogs), question marks, and stars. Henderson, founder of the Boston Consulting Group, came up with The Product Portfolio (aka BCG Matrix, or Growth-share Matrix), which would look at a successful business product portfolio based on potential growth and market shares. The Ansoff matrix assesses how to build a product portfolio based on whether to work on existing/new products or existing/new markets. The BCG Matrix focuses on creating a success sequence, where new products can be turned into stars (high growth and high market shares products) and cash cows in the longer term (high market shares, low margin industries).
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