Product/Market Matrix

The Product/Market Matrix assists businesses dealing with several types of products, each with a unique situation. It provides guidance in situations concerning current or new markets and products.

Product/Market Matrix

Product/Market Matrix info

  1. New Product; Current Market
  2. Contains product development tasks.

  3. New Product; New Market
  4. Contains diversification tasks.

  5. Current Product; Current Market
  6. Contains market penetration tasks.

  7. Current Product; New Market
  8. Contains market development tasks.

Product/Market Matrix Template

It is generally known that businesses strive to extract as much profit as possible from each product they develop; they also seek to diversify their selection and keep current customers satisfied. The Product/Market Matrix assists in doing just that, with a quadrant for advice on each topic.

'New Product/Current Market': For projects in this quadrant, businesses should work on a fresh product for already-existing customers.

'New Product/New Market': For projects in this quadrant, businesses should create a unique product for new customers.

'Current Product/Current Market': For projects in this quadrant, businesses should seek to increase consumption of products for already-existing customers.

'Current Product/New Market': For projects in this quadrant, businesses should work to enter a new market with a product that they already provide.


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Product/Market Matrix in Priority Matrix

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