Question

The Growth Matrix was based on the rationale that market administration brings about supportable predominant returns. Eventually, the market chief gets a self-supporting expense advantage that contenders view as hard to reproduce. These high development rates then signal which markets have the most development potential. Organizations ought to drain these "gold mines" for money to reinvest. Organizations ought to essentially put resources into these "stars" as they have Growth Matrix

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Answer 1

 opportunities and competitive advantage can be analyzed and classified based on two key factors: market growth rate and relative market share.

The matrix is divided into four quadrants:
1. Market penetration: This quadrant represents products or services with a high market share in a slow-growing market. The strategy here is to maintain market dominance and focus on increasing sales to existing customers.

2. Market development: This quadrant represents products or services with a high market share in a rapidly growing market. The strategy here is to expand into new markets or market segments to capitalize on growth opportunities.

3. Product development: This quadrant represents products or services with low market share in a rapidly growing market. The strategy here is to innovate and develop new products or services to capture market share and grow alongside the market.

4. Diversification: This quadrant represents products or services with low market share in a slow-growing market. The strategy here is to explore new markets or industries to diversify and mitigate risks associated with a slow-growing market.

The growth matrix provides a framework for businesses to analyze their current market position and future growth opportunities, helping them make strategic decisions to drive success and profitability.

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