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To identify marketing strategies in relation to Product, and the risk associated with carrying out this strategies.
Do i sell more in existing market ?
Do i enter new market ?
Do i sell new product ? - either in Existing market or New markets .
Do i diversify ?
Ansoff's matrix helps to give a clearer picture to the questions above.
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∙ 12y ago
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How do you explain BCG Matrix?
Explain BCG Matrix?
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What is a BCG matrix?
BCG matrix aka Boston matrix is a chart that had been created by Bruce Henderson for the Boston Consulting Group in 1970 to help corporations with analyzing their business units or product lines. (http://en.wikipedia.org/wiki/Growth-share_matrix) NB a picture is also included on the website. BCG matrix is an important tool to measure companies' brands worth. By analysis where their brands stand in BCG matrix, they can better develop branding strategies.
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