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- Product Development Matrix
Product Development Matrix
The Product Development Matrix is a strategic tool used to evaluate and guide the development of new products. It helps businesses decide whether to introduce new products to existing markets, develop new markets for existing products, or both. The matrix is divided into four quadrants, each representing a different strategic approach.
At a very high level, the Product Development Matrix is used in the context of business, marketing, strategy.
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- Market Development-Growth Matrix
- Market Development-Size Matrix
- Market Environment-Competitive Intensity Matrix
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- Market Environment-Market Size Matrix
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- Market Growth Matrix
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- Market Opportunity Matrix
- Market Opportunity-Performance Matrix
- Market Opportunity-Size Matrix
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- Marketing Automation Matrix
- Marketing Campaign-Performance Matrix
- Marketing Effectiveness Matrix
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- Marketing Effectiveness-Value Alignment Matrix
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- Marketing Mix Strategy Matrix
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- Marketing Mix-Performance Matrix
- Marketing Mix-Value Matrix
- Marketing Performance Matrix
- Marketing Plan Matrix
- Marketing Research Matrix
- Marketing Research-Analysis Matrix
- Materiality Assessment Matrix
- Maturity Assessment Matrix
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- Maturity Level-Performance Matrix
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- Maturity Level-Value Proposition-Value Stream-Value Chain-Performance Alignment Matrix
- Maturity Level-Value Stream Alignment Matrix
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- Mergers and Acquisitions Matrix
- Messaging-Media Matrix
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- Mobile Marketing Matrix
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- Organic Search-Competitive Positioning Matrix
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- Organizational Capability-Value Creation Matrix
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- Organizational Culture Assessment Matrix
- Organizational Culture Maturity Matrix
- Organizational Design-Performance Matrix
- Organizational Design-Value Chain Alignment Matrix
- Organizational Design-Value Matrix
- Organizational Design-Value Proposition-Value Stream Alignment Matrix
- Organizational Design-Value Stream Alignment Matrix
- Organizational Development Maturity Matrix
- Organizational Effectiveness-Value Alignment Matrix
- Organizational Effectiveness-Value Matrix
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- Organizational Effectiveness-Value Proposition-Value Stream-Value Chain Alignment Matrix
- Organizational Effectiveness-Value Stream Alignment Matrix
- Organizational Health Assessment Matrix
- Organizational Health Matrix
- Organizational Performance Matrix
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- Organizational Performance-Value Matrix
- Organizational Readiness-Value Matrix
- Organizational Resilience Matrix
- Organizational Resilience-Performance Matrix
- Organizational Resilience-Value Chain Alignment Matrix
- Organizational Resilience-Value Matrix
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- Organizational Risk-Opportunity Matrix
- Organizational Structure-Value Matrix
- Organizational Sustainability Matrix
- Outsourcing Matrix
- Outsourcing Risk-Value Matrix
- Paid Search-Competitive Positioning Matrix
- Partner Selection Matrix
- Partnership Marketing Matrix
- People Capability Maturity Matrix
- Perception-Positioning Matrix
- Performance and Potential Matrix
- Performance Appraisal Matrix
- Performance Feedback Matrix
- Performance Management Maturity Matrix
- Performance Management-Value Chain Alignment Matrix
- Performance Management-Value Matrix
- Performance Management-Value Proposition-Value Stream Alignment Matrix
- Performance Management-Value Stream Alignment Matrix
- Performance Measurement Matrix
- Performance-Matrix Marketing
- Performance-Value Chain Alignment Matrix
- Performance-Value Matrix
- Performance-Value-Complexity Matrix
- Personality Assessment-Value Matrix
- Personalization Matrix
- PESTLE Analysis Template
- PICK Matrix
- Porter's Five Forces Framework
- Portfolio Analysis Matrix
- Portfolio Analysis-Evaluation Matrix
- Portfolio Analysis-Performance Alignment Matrix
- Portfolio Analysis-Value Alignment Matrix
- Portfolio Assessment-Performance Alignment Matrix
- Portfolio Optimization-Value Alignment Matrix
- Portfolio Optimization-Value Stream Alignment Matrix
- Portfolio Performance-Value Matrix
- Positioning Matrix
- Process Capability Assessment-Value Alignment Matrix
- Process Capability Matrix
- Process Capability-Performance Matrix
- Process Capability-Value Alignment Matrix
- Process Improvement Matrix
- Process Improvement Maturity Matrix
- Process Improvement-Performance Alignment Matrix
- Process Improvement-Value Alignment Matrix
- Process Improvement-Value Stream Alignment Matrix
- Procurement Capability-Value Matrix
- Procurement Maturity Matrix
- Product Adoption Matrix
- Product Costing Matrix
- Product Design Matrix
- Product Design-Development Matrix
- Product Design-Value Matrix
- Product Development Matrix
- Product Development-Reward Matrix
- Product Development-Risk Matrix
- Product Development-Risk-Value Alignment Matrix
- Product Development-Value Matrix
- Product Differentiation Matrix
- Product Feature Matrix
- Product Feature-Value Alignment Matrix
- Product Feature-Value Matrix
- Product Launch-Performance Matrix
- Product Life Cycle Matrix
- Product Portfolio Matrix
- Product Positioning Matrix
- Product Roadmap Matrix
- Product Roadmap-Performance Matrix
- Product-Market Fit Matrix
- Product-Market Matrix
- Product-Market-Technology Matrix
- Product-Service Matrix
- Product-Service Mix Matrix
- Productivity Improvement Matrix
- Program Management Maturity Matrix
- Project Benefit Matrix
- Project Charter Matrix
- Project Management Capability Assessment-Value Matrix
- Project Management Capability-Performance Alignment Matrix
- Project Management Capability-Value Proposition Alignment Matrix
- Project Management Capability-Value Stream Alignment Matrix
- Project Management Matrix
- Project Management Office Maturity Matrix
- Project Management-Performance Alignment Matrix
- Project Prioritization Matrix
- Project Prioritization-Alignment Matrix
- Project Risk Matrix
- Project Risk-Opportunity Matrix
- Project Risk-Value Matrix
- Promotions Matrix
- Prospecting Matrix
- Public Relations Matrix
- Purchase Decision Matrix
- Quadrant Analysis
- Quality Control Matrix
- Quality Control-Performance Matrix
- Quality Function Deployment Matrix
- Quality Management Capability Assessment Matrix
- Quality Management Capability-Value Alignment Matrix
- Quality Management Capability-Value Proposition-Value Chain Alignment Matrix
- Quality Management Matrix
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- Rational Decision-Making Matrix
- Recruitment Capability-Value Matrix
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- Relationship Management Matrix
- Relationship Marketing Matrix
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- Requirements Traceability Matrix
- Resource Allocation Matrix
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- Resource Capability Matrix
- Resource Utilization Matrix
- Risk Analysis Matrix
- Risk Assessment Matrix
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- Risk Matrix
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- Risk-Response Matrix
- Risk-Return Matrix
- Roadmap Matrix
- Root Cause Identification Matrix
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- Sales and Marketing Alignment Matrix
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- Sales Effectiveness-Value Matrix
- Sales Force Effectiveness Matrix
- Sales Growth Matrix
- Sales Maturity Matrix
- Sales Performance Matrix
- Sales Performance-Value Alignment Matrix
- Sales Performance-Value Proposition Alignment Matrix
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- Sales Performance-Value Stream-Value Proposition Alignment Matrix
- Sales Performance-Volume Matrix
- Sales Pipeline Matrix
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- Sales Pipeline-Value Matrix
- Sales-Value-Complexity Matrix
- Scenario Planning Matrix
- Scrum Agile Matrix
- Search Engine Optimization Matrix
- Security Capability-Value Matrix
- Service Blueprinting Matrix
- Service Capability-Value Matrix
- Service Delivery Capability Assessment-Performance Alignment Matrix
- Service Delivery Capability Assessment-Value Alignment Matrix
- Service Delivery Capability Maturity Assessment-Value Matrix
- Service Delivery Capability Maturity Matrix
- Service Delivery Capability-Value Alignment Matrix
- Service Delivery Matrix
- Service Delivery Performance-Value Alignment Matrix
- Service Delivery Performance-Value Matrix
- Service Delivery-Value Alignment Matrix
- Service Delivery-Value Matrix
- Service Design and Delivery Capability Assessment Matrix
- Service Design and Delivery Matrix
- Service Design and Delivery-Value Alignment Matrix
- Service Design Matrix
- Service Excellence Matrix
- Service Innovation-Performance Alignment Matrix
- Service Innovation-Value Matrix
- Service Innovation-Value Proposition Alignment Matrix
- Service Innovation-Value Stream Alignment Matrix
- Service Management Capability Assessment-Value Matrix
- Service Management Capability Maturity Matrix
- Service Maturity Matrix
- Service Performance-Value Matrix
- Service Profit Chain Matrix
- Service Quality Matrix
- Service-Value-Complexity Matrix
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- Software Development Capability-Value Matrix
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- Strategic Capability-Value Stream Alignment Matrix
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- Strategic Maturity Matrix
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- Strategy Map
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- Supply Chain Analysis Matrix
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- Supply Chain Visibility Matrix
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- Sustainability Performance-Value Chain Alignment Matrix
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- SWOT Analysis Matrix for Marketing
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- System Development Capability-Value Matrix
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- Systems Engineering Capability-Value Matrix
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- Talent Acquisition-Performance Matrix
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- Talent Pool Matrix
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- Target Market Matrix
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- Technology Assessment Matrix
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- Technology Capability Maturity Model
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- Technology Evaluation Matrix
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- The 7 Habits of Highly Effective People
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- User Experience Matrix
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- Value Chain Analysis
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- Value Proposition Canvas
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- Value-Based Pricing Matrix
- Vendor Evaluation Matrix
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- Vendor Risk Matrix
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- Viral Marketing Matrix
- Voice of Customer Matrix
- Website Traffic-Conversion Matrix
- Work Breakdown Structure (WBS)
- Workforce Capability Development-Performance Alignment Matrix
- Workforce Capability Development-Value Alignment Matrix
- Workforce Capability-Performance Matrix
- Workforce Capability-Value Alignment Matrix
- Workforce Development-Performance Alignment Matrix
- Workforce Development-Value Matrix
- Workforce Development-Value Proposition Alignment Matrix
- Workforce Performance-Value Chain Alignment Matrix
- Workforce Performance-Value Proposition-Value Chain Alignment Matrix
- Workforce Performance-Value Stream Alignment Matrix
- Workforce Skill Development Matrix
- YouTube Marketing Matrix
What is the Product Development Matrix?
A visual explanation is shown in the image above. The Product Development Matrix can be described as a matrix with the following quadrants:
- Market Penetration: Increasing sales of existing products in existing markets. Example: Boosting sales of a popular smartphone model through a marketing campaign.
- Product Development: Creating new products for existing markets. Example: Developing a new smartphone model to appeal to current customers.
- Market Development: Entering new markets with existing products. Example: Launching the current smartphone model in a new country.
- Diversification: Developing new products for new markets. Example: Introducing a new line of wearable technology in a new geographic region.
What is the purpose of the Product Development Matrix?
The Product Development Matrix, also known as the Ansoff Matrix, is a strategic planning tool that provides a framework for businesses to devise strategies for growth. The matrix is divided into four quadrants, each representing a different strategy for product and market development:
- Market Penetration: Focuses on increasing sales of existing products in existing markets. This can be achieved through marketing efforts, price adjustments, or improving product features.
- Product Development: Involves creating new products to serve existing markets. This strategy is often used when a company has a strong market presence and wants to leverage its brand to introduce new offerings.
- Market Development: Entails entering new markets with existing products. This can involve geographic expansion, targeting new customer segments, or exploring new distribution channels.
- Diversification: Involves developing new products for new markets. This is the most risky strategy as it requires both product innovation and market exploration.
Each quadrant represents a different level of risk and potential reward. Companies use this matrix to assess their current position and identify opportunities for growth, helping them to allocate resources effectively and make informed strategic decisions.
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What templates are related to Product Development Matrix?
The following templates can also be categorized as business, marketing, strategy and are therefore related to Product Development Matrix: Product-Market Matrix, 4 Ps Marketing Mix Matrix, AI Capability-Value Proposition Alignment Matrix, AI Innovation-Value Alignment Matrix, AI Maturity Matrix, AI-Value Proposition Alignment Matrix, AI-Value Proposition Matrix, AIDA Marketing Matrix. You can browse them using the menu above.
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