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| Boston Consulting Group Growth market share matrix |
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Definition
| A portfolio analysis model developed by the Boston Consulting Group that assesses the potential of a product (or strategic business unit-SBU |
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| Are SBU's with products that have a dominant market share in high-growth markets |
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| Have a dominant market share in a low-growth potential market |
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| Question marks are SBU's with low market share in fast growth markets- they are questionable as management must decide whether to apply finances to the product or SBU or to sell it off |
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| SBU's with a small market share of a slow-growth market. They are businesses that offer specialized products in limited markets that are not likely to grow quickly. CEO's sell off dogs to other companies that may bundle them into a product line and breath new life into the dog. |
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| An ongoing process of making decisions that guide the firm both in the short and long term |
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| A document that includes the decisions that guide the entire organization |
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| The group of different products or brands owned by an organization and characterized by the different income generating and growth capabilities. |
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| The uncontrollable elements outside an organization that may affect its performance either positively or negatively |
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| A decision process that concentrates on developing detailed plans for strategies and tactics for the short term that support an organization's long-term strategic plan |
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| Opportunities for growth use the following strategies. |
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| Market Penetration Strategy |
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| Seek to increase sales of existing products to existing markets such as current users, nonusers and users of competing brands within market. |
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| Market Development Strategy |
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| Introduce existing products to new markets, such as a new geographic area, or new customer segments in an existing geographic area. |
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| Product Development Strategy |
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| Growth strategies that focus on selling new products in currently served markets |
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| Diversification Strategies |
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Definition
| Emphasize both new products and new markets to achieve growth |
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| The controllable elements inside an organization including its people, its facilities, and how it does things that influence the operations of the organization |
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| A document that describes the marketing environment outlines the marketing objectives and strategy and identifies who will be responsible for carrying out each part of the marketing strategy |
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| A formal paragraph in an organization's strategic plan that describes the overall purpose of the organization and what it intends to achieve in terms of its customers, products, and resources. |
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| A decision process that focuses on developing detailed plans for day-to-day activities that carry out an organization's functional plans. |
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| Directions that focus on the day-to-day execution of the marketing plan. These include detailed directions for the specific activities to be carried out, who will be responsible for them, and time lines for accomplishing the tasks. |
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| A management tool for evaluating a firm's business mix (like financiers evaluating a portfolio of assets like stocks and bonds) and assessing the potential of an organization's strategic business units. See BCG model. |
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| An assessment of a firm's internal and external environments |
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| Individual sections within the firm that operate like separate businesses with each having its own mission, business objectives, resources, managers, and competitors |
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| A managerial decision process that matches an organization's resources and capabilities to its marketing opportunities for long-term growth and survival |
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| An analysis of an organization's strengths and weaknesses and the opportunities and threats in its external environment. Smart businesspeople regularly perform this analysis on their own portfolios and career. |
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