Standard Article

Growth Strategies

Part 5. Product Innovation and Management

  1. Michael J. Baker

Published Online: 15 DEC 2010

DOI: 10.1002/9781444316568.wiem05008

Wiley International Encyclopedia of Marketing

Wiley International Encyclopedia of Marketing

How to Cite

Baker, M. J. 2010. Growth Strategies. Wiley International Encyclopedia of Marketing. 5.

Author Information

  1. University of Strathclyde, Glasgow, UK

Publication History

  1. Published Online: 15 DEC 2010

Abstract

In competitive markets, the firm has to constantly adapt and update its offering to maintain its position. But, to improve its market share, it requires a growth strategy – the subject of this article. To begin with, we review Ansoff's growth-vector matrix, which identifies four basic alternatives. Selection of the preferred course of action is largely determined by the stage reached in the product life cycle, which is analyzed next. The two concepts are then combined into the diagnostic “box” developed by the Boston Consulting Group as a basis for examining the options available to the firm at each of the major phases of the PLC.

Keywords:

  • growth;
  • strategy;
  • growth-vector matrix;
  • product life cycle;
  • Boston box