Ansoff matrix
Ansoff matrix: growing a yoga studio
Market penetration
Product development
Market development
Diversification
Classes we run now
New classes
People we reach now
New people
10-class pass discount
Bring-a-friend week
Prenatal yoga
Online classes for members
Lunchtime classes in offices
Classes on the uni campus
Yoga retreat weekends
Our own brand of mats
Make an Ansoff matrix
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What an Ansoff matrix is
“The Ansoff matrix is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future business growth.”
Types of 2×2 matrix
When to use an Ansoff matrix
A startup
Four ways to grow: sell more of what you have, or new things, to the people you reach or new ones.
Strategy
Diversification, in the far corner, is the riskiest box, so it needs the best reason.
Finding ideas
Brainstorm one idea for each box, like prenatal classes for a yoga studio.
How to make an Ansoff matrix
- 1Draw four boxesAnsoff matrix: growing a yoga studioMarket penetrationProduct developmentMarket developmentDiversificationClasses we run nowNew classesPeople we reach nowNew people
- 2What you do nowAnsoff matrix: growing a yoga studioMarket penetrationProduct developmentMarket developmentDiversificationClasses we run nowNew classesPeople we reach nowNew people10-class pass discountBring-a-friend week
- 3Then the newAnsoff matrix: growing a yoga studioMarket penetrationProduct developmentMarket developmentDiversificationClasses we run nowNew classesPeople we reach nowNew people10-class pass discountBring-a-friend weekPrenatal yogaOnline classes for membersLunchtime classes in officesClasses on the uni campusYoga retreat weekendsOur own brand of mats
Helpful resources
Questions
- Where does the name come from?
It is named after Russian American Igor Ansoff, an applied mathematician and business manager, who created the concept.
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