Ansoff Matrix> Explore and brainstorm together
The Ansoff matrix is a traditional corporate marketing strategy tool. It gets a company thinking about all the possibilities out there for developing business. The matrix explores 4 possibilities based on the company’s product offers and markets.
How can you grow whilst continuing with current products or designing new ones?
How can you grow whilst sticking to existing markets or looking for new ones?
Each participant will speak about these different possibilities with a view to generating a list of areas of growth to reinforce the company’s strategy.
This activity should be tackled with a team that has a clear view of the company’s products and markets. Bring together people from marketing and sales, as well as senior management.
Prepare a Board activity in round by round mode, with 4 categories:
Market Penetration, Market Expansion, Product Development, Diversification.
You can set up time management, to be adjusted according to the number of participants (30 to 60 minutes).
Activity settings Board
- Activity format: Round by round
- Vote: in Points
- Time management: Timer (30-60 min)
- Categories: Market Penetration, Market Expansion, Product Development, Diversification
Specify the purpose of the meeting: today you’ll work with the group to define the company’s growth strategy. Introduce the activity and the meaning of each of the four categories:
- Market penetration: Participants express ideas on how to strengthen their business in the current markets and for current products. This could involve actions like giving the sales teams or communications a boost in order to attract new customers to this market.
- Market extension: Why not head out in search of new markets with your current products! These could be new geographical markets or a new sector.
- Product development: Are your current projects reaching their limits? Now’s the time to dream up new ones to entice your existing customers once more. Maybe even ask them what they’re waiting for!
- Diversification: Leaping into the great unknown! New offer for a new market: reinvent your marketing entirely to set your company on a new course. But be sure to think carefully about how to limit the risks.
Each participant works quietly on their own during the time allocated for exploration, taking note of their ideas on their Beekast notepad.
It’s important for the exploration phase to be done in silence to avoid any influence from the group.
One by one, the participants send their notepad ideas to the Board, taking a few seconds to explain each idea.
You can create groups as you go along to put similar ideas together. You can also use colour markers.
Your idea gathering session is finished once everyone has had a chance to speak. If there are a lot of ideas to discuss, we recommend casting votes using points:
- You can switch directly to the voting session in your Beekast Board. Remind participants that they only have a few points, to make sure they prioritise what really matters to them.
After your voting session or when manual selection is done, identify the most popular ideas (generally the first 3 or 4) to set up an action plan for their implementation.
You can create actions from the ideas on the Board or directly in the discussion area to include them in your meeting notes.