Growth Strategy Matrix

The Growth Strategy Matrix is a tool used to help businesses identify and prioritize growth opportunities. It divides potential opportunities into four categories: Market Penetration, Product Development, Market Development, and Diversification.

At a very high level, the Growth Strategy Matrix is used in the context of business, strategy.

Growth Strategy Matrix quadrant descriptions, including examples
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What is the Growth Strategy Matrix?

A visual explanation is shown in the image above. The Growth Strategy Matrix can be described as a matrix with the following quadrants:

  1. Market Penetration: Increasing sales of existing products to existing markets (e.g. increasing market share)
  2. Product Development: Creating new products for existing markets (e.g. introducing a new product line)
  3. Market Development: Selling existing products to new markets (e.g. entering a new geographic region)
  4. Diversification: Creating new products for new markets (e.g. launching a new product in a new industry)

What is the purpose of the Growth Strategy Matrix?

The Growth Strategy Matrix is a tool used to help businesses identify and prioritize growth opportunities. It divides potential opportunities into four categories: Market Penetration, Product Development, Market Development, and Diversification. Each category is represented by a quadrant in the matrix, and businesses can use the matrix to determine which opportunities are the most viable for their particular situation.

For example, Market Penetration opportunities involve increasing sales of existing products to existing markets. Product Development opportunities involve creating new products for existing markets. Market Development opportunities involve selling existing products to new markets. And Diversification opportunities involve creating new products for new markets.

The Growth Strategy Matrix is a useful tool for businesses to evaluate potential growth opportunities and determine which ones are the most viable. It can also help businesses identify potential areas of risk and develop strategies to mitigate those risks.


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What templates are related to Growth Strategy Matrix?

The following templates can also be categorized as business, strategy and are therefore related to Growth Strategy Matrix: Effort Impact Matrix, Gap Analysis Matrix, Growth Share Matrix, Kraljic Matrix, Outsourcing Matrix, Quadrant Analysis, Risk Analysis Matrix, Risk Value Matrix. You can browse them using the menu above.

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