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The Ansoff Product-Market Growth Matrix is a marketing tool created by Igor Ansoff and first published in his article "Strategies for Diversification" in the Harvard Business Review (1957). Market development (new markets, existing products): An established product in the marketplace can be tweaked or targeted to a different customer segment, as a strategy to earn more revenue for the firm. Diversification (new markets, new products): Companies that dominant in one specific market can branch out into new markets to provide a new line of products that differ from their existing stock.
The matrix illustrates, in particular, that the element of risk increases the further the strategy moves away from known quantities - the existing product and the existing market. While the latter are usually followed with the same technical, financial, and merchandising resources which are used for the original product line, diversification usually requires new skills, new techniques, and new facilities. Interflex Group supplying innovative packaging solutions, specialising in serving the fresh food, packaged food, confectionary, pet product and industrial product markets. InterFlex is a leader in specialty flexible packaging serving the fresh food, packaged food, confectionary, pet product and industrial product markets.
We strive to deliver the highest quality packaging products and services to our customers around the world.
Product life cycle management (or PLC management) is the sequential formulation and implementation of strategies used by Marketing Professionals as a product goes through its life cycle. Indeed, without effective product lifecycle management, success mapping and product phase-outs would be virtually impossible.
The market characteristics and challenges faced in each stage of the product life cycle is very unique and certain issues are common across industries. Based on these characteristics Product and Brand managers take decisions about formulation and implementation of strategy.
The GE-McKinsey matrix is often used for analysis of the business market structure and subsequently design a series of strategies, based on the analysis.
In this piece, we’ll explain how product documentation can help you meet launch goals and empower your customer-facing teams and end users. According to Julie Hall and Joan Schneider, both Partners at Schneider Public Relations, a lack of communication and planning can be linked to the top reasons products fail. Luckily, a carefully created product launch plan can help address all of these issues by aligning departments with both strategy and execution.
Serial entrepreneur and Forbes author, Matt Clark reiterates that every successful product launch starts with a launch plan and calendar. This detailed document can also be interpreted as a Go-To-Market strategy, which is the overall battle plan for your product.
It’s important that your Go-To-Market strategy thinks about all marketing channels with a focus on customer segmentation. Therefore, your product launch document should explain your launch goals, identify the most valuable segments, and lay out a plan of execution. Sales Goals  — These are probably the easiest to define since you already have sales expectations. Prospect Goals — Defining the number of prospects is especially helpful if you have a long sales cycle. Customer Upsell Goals — Companies with existing products can use this to gauge relevance of new products to existing customers. Product Defect Goals: Communicate clearly with development and QA so customer satisfaction (and therefore revenue) isn’t damaged. To best achieve your launch goals, focus your launch messaging on the MVS (minimum viable segment) who have the same problems you seek to solve. As you can see above, the right MVS will give your new product the best chance at being adopted by the right people.

For example, Google doesn’t just release updates — it’s changing the way the world finds information.
Payment device startup, Coin, is the poster child for targeting an MVS with the right messaging. For more information on how early-stage products should focus on the MVS, check out our Guide to Minimum Viable Products. Make sure your product launch plan includes a section naming the DRI — directly responsible individual. According to Chris Guillebeau, New York Times bestselling author of “The $100 Startup,” a checklist helps make sure nothing slips through the cracks.
Janine Popick, Founder of VerticalResponse, ensures her company’s launch checklist covers all department responsibilities down to the day. If you want to play it safe, you could do a soft launch near the end of the week and not announce until Monday (allowing yourself the weekend to resolve issues). Once you finish your product checklist, you’ll have clearer visibility to keeping your Go-To-Market strategy on track. Product launch communications should be a two-way street — you need to inform your customers just as much as your internal teams. It helps if the content you create for product launches serves the dual purpose of informing customers and sales teams. Below, we’ll show how a launch FAQs, demo videos, and case studies help fulfill this dual purpose.
Compared to the traditional method of heavy manuals, a launch FAQ portal can be a much more scalable and user-friendly solution. To assist with promotions, you can also create a subsection specifically for bloggers and media to answer questions such as “What’s the big picture?” “How are we different?” and “What’s the business model?” The Hulu portal example above is an excellent method to structure different questions for different audiences.
Neil Patel, cofounder of KISSMetrics, emphasizes that  the most important part of a demo video is the script rather than video quality. There are few things more compelling for a potential customer than seeing someone reputable already using your product.
The best way to achieve this is by gaining competitors' customers (part of their market share).
Frequently, when a firm creates new products, it can gain new customers for these products. As a result it almost invariably leads to physical and organizational changes in the structure of the business which represent a distinct break with past business experience.
The conditions of the market in which a product gets sold changes over time and the issues that arises with the changes must be managed as the product moves through its succession of stages.
Imagine if you as a manager or entrepreneur had no idea which of your offerings are really doing well. Our authors are educators from top QS ranked universities and practitioners from multinational enterprises. Specific reasons included poor timing, lack of planning for post-launch, and confusing product messaging. For a lean launch plan with helpful pointers, check out Demand Metric’s product launch plan.
To stay realistic, Clark recommends that your product plan can work backwards from the launch date to detail every step along the way. Identify all buyer personas and understand who will play (Actors) what part in what stage (Scene) of the sales cycle. Example: We expect 12000 site visits and 15 news sites to pick up our press release within 90 days of launch.

Make sure you work closely with marketing to define prospects so the sales team gets better quality leads. The “minimum” refers to a niche small enough for you to completely dominate while the “viable” denotes that they want a product you can deliver.
Usually, members of the MVS are tightly knit and communicate via community forums or online groups. Don’t just release features, make sure you communicate how you’re improving the customer’s life.
Its device’s November 2013 debut on crowdfunding site Kickstarter earned $50,000 in 47 minutes. Apply the same elegant thinking towards your overall Go-To-Market strategy and you’ll trim more fat while selling more products to people who will spread the word.
Demand Metric has a user-friendly launch checklist that also automatically populates a Gantt chart to keep everyone on track.
As you approach launch, he advises signing up for all marketing and sales email notifications and buying the product multiple times to ensure smoothness.
If you want to make a big splash, consider going live with everything on a Monday or Tuesday. Pragmatic Marketing found that customers are increasingly self-sufficient as 95 percent of buyers purchased from companies who provided ample content, yet customers could only find relevant content 42 percent of the time. Launch content can be a great selling tool since reps learn about what appeals to customers and can repurpose the material for lead nurturing. You can create the content from top issues found during beta testing and update the content based on customer feedback loops. Demo videos are inherently multi-purpose since they easily inform the press, potential customers, and sales reps alike. Just like the FAQ portal, you can base your script on beta feedback to answer recurring frustrations and objections. Analysis of other explainer videos from companies like DropBox can be found in greater detail in the Guide to MVPs. Case studies are complex and requires trusted beta testers, but can catapult your launch to a whole new level.
This matrix helps companies decide what course of action should be taken given current performance.
Again, the market need not be new in itself; the point is that the market is new to the company.
In his original work, which did not use the matrix form, Igor Ansoff stressed that the diversification strategy stood apart from the other three. Finally you launch, and as you watch it disappearing through the clouds, it finally hits you that it’s completely out of your hands.
Whether you’re part of a large launch team or a solo entrepreneur, a documented launch process can save you time, sanity, and even your product. For more detail, Growth Technical Marketing has a launch plan that walks you through every step.
You need the clearest picture of success since your goals frame the purpose of your product. The team developed crisp messaging to go after a segment ignored by big payment processors — millennials tired of carrying multiple credit cards — and targeted them online where they spend the most time.

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