Part 5. Product Innovation and Management
Published Online: 15 DEC 2010
Copyright © 2011 John Wiley & Sons, Ltd. All rights reserved.
Wiley International Encyclopedia of Marketing
How to Cite
Baker, M. J. 2010. Growth Strategies. Wiley International Encyclopedia of Marketing.
- Published Online: 15 DEC 2010
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.
- growth-vector matrix;
- product life cycle;
- Boston box