Product-Market Growth Matrix
Product-Market Growth Matrix is a marketing tool that allows marketers to consider ways to grow the business via existing and new products, in existing and new markets.there are four strategies of Product-Market Growth Matrix.
1.Market penetration
2.New product development
3.Market development
4.Diversification
Market penetration: selling existing products to existing market
New product development: developing new products to existing market.
Market development: extending existing products t new market
Diversification: developing new products for new market
According to my opinion, this product-market growth matrix is useful for planning and this identify basic alternative strategies which is option for a firm wanting to grow.
Friday, December 18, 2009
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1 comments:
nice sultan, with these four stratagies which help in the development and growthness of bussiness the company also make a strategy for downsizing which is getting rid or reducing the products of business units.
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