Answered: Describe the four basic growth…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Describe the four basic growth strategies for companies using the Strategic Opportunity Matrix.

Provide examples of each strategy.

Expert Solution

Step 1

Strategic opportunity matrix analysis helps the firm to identify new market and new product opportunities. This matrix shows four strategies which can be used to help a firm grow and also analyses the risk associated with each strategy.

New vs existing markets and

New vs existing products.

Hence, in this way strategic opportunity matrix assist firms in establishing appropriate growth strategies.

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