The Ansoff Matrix, introduced by mathematician and business leader Igor Ansoff, highlights four options for achieving growth. The key decision is whether to scale existing offer or develop something new. The strategy chosen governs where the company's time and money should be focused.
Click here to see an animation that explains the concept and here for the Dove example, which shows how a brand can adopt different strategies at different stages of its development.
An expanded version of the matrix can be found here.