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 info
- New Product; Current Market
- New Product; New Market
- Current Product; Current Market
- Current Product; New Market
Contains product development tasks.
Contains diversification tasks.
Contains market penetration tasks.
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.
Want to try this template?
Product/Market Matrix in Priority Matrix
You can get Product/Market Matrix in your Priority Matrix in just a moment:
- Click to sign in or create an account in the system
- Start adding your items to the matrix
- If you prefer it, download Priority Matrix and take your data with you