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Growth in a company creates an important, enthusiastic corporation where individuals see genuine opportunity. At the same time, the management must be careful not to solely make growth its main objective but rather should focus on profitable growth. The main responsibility of marketing is to achieve profitable growth for the company. Marketing must recognize, evaluate and select market opportunities and strategize on how to achieve things. Product-market expansion grid is one of the devices for identifying growth opportunities. There are four strategies one for each and every quadrant in the grid (Yim Hee: 76). The grid has two dimensions which are product and market dimensions. Four growth strategies can be formed from these two dimensions. They include:
This is a risky strategy this is because there is inadequate scope for utilizing current expertise or realizing economies of scale especially when you are trying to sell entirely different services or products to different customers. Its main strength is that one business is unlikely to be affected incase one business suffer from adverse circumstances (Yim Hee: ...
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Marketing expansion grid is a great tool to use with the marketing stakeholders especially the marketing department. The product/market grid has proven to be very vital in business unit…
Author : raymondmosciski

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