Marketing Management, 16th Edition

Summary

1. Assessing growth opportunities involves two main considerations: identifying the types of products and markets a company should focus on and managing the product–market growth strategy over time.

2. Market growth can be achieved by four core strategies that define market opportunities for a firm in terms of current and new products and markets. A firm can pursue one or more of the four product–market growth strategies: market penetration, market development, product development, and diversification.

3. A company can grow in two ways: by increasing output and enhancing revenues and profits internally—an approach commonly referred to as organic growth—or by relying on mergers and acquisitions. Market-penetration and market-development strategies ...