What are the advantages and disadvantages of using Ansoff's matrix and (separately) the Boston matrix?
(A level business)5 years ago - 2 answers
The Ansoff Matrix is a simple two x two matrix and is used to assess a strategy for two different product scenarios and two market scenarios
The Boston Consulting Group (BCG) matrix is also a two by two matrix that suggests a strategy based on Business Growth Rate and Market Share.
Both are useful to identify high level strategies. Their main advantage is that they take very complex scenarios and allow for a rapid and easy assessment.
However, their over-simplistic two by two design does not account for the complexities of real-world markets or product decisions.
This means they are a good first step to develop a broad strategy. But this should then be followed by detailed market, product and customer assessments. This is a weakness.
i dunnoby Mr Premier - 5 years ago