The Ansoff Matrix was developed by a Russian mathematician Igor Ansoff. The objective of this matrix is to help business managers to analyze and devise business strategies in order to grow the business, using the existing products or by introducing new ones. The matrix describes four major dimensions in which the business can grow and helps in assessing the degree of risk involved. Ansoff Matrix is also called the Product/Market Expansion Grid; the figure below defines the four ways in which the business can grow.
Walmart Ansoff Analysis
The matrix suggests four different ways of business growth i.e. Market Development, Market Penetration,