Description
The life cycle of any product or service is key in the development of a marketing strategy. As corporate goals or consumer interests change, so will products or services. External to an organization will also be the impact of technological advancements and regulatory changes on product and service development and life cycle.
Conduct an internet search for “BCG Growth-Share Matrix” and “GE/McKinsey Nine Cell Matrix” and learn how these tools are used to build strategic plans.
Write a 2- to 3-page paper that explains how BCG Growth-Share Matrices and GE/McKinsey Nine Cell Matrices are used in the health care industry to build strategic plans and how marketing can use them in the creation of marketing plans and communicating to their audience and service/product lines.
Cite at least 3 reputable references to support your assignment (e.g., trade or industry publications, government or agency websites, scholarly works, or other sources of similar quality).
Explanation & Answer
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Running head: “BCG GROWTH-SHARE MATRIX” AND “GE/MCKINSEY NINE CELL
MATRIX”
“BCG Growth-Share Matrix” and “GE/Mckinsey Nine Cell Matrix”
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“BCG GROWTH-SHARE MATRIX” AND “GE/MCKINSEY NINE CELL MATRIX”
2
GE/McKinsey Nine Cell Matrix” and the Boston Consulting Group share matrix can be
used in building strategic plans for an organization. The Boston Consulting Group growth-share
matrix is used to denote a planning strategy or tool that deploys the use of graphs in representing
the services and products of a corporation to aid a particular corporation to resolve where to
incept priorities in terms of investment (Aylesworth et al., 2010). The tool works by plotting the
offerings of a company in a four square matrix. The Y-axis depicts the rate of growth of the
market while the x-axis denotes the market share of the corporation.
The BCG growth-share matrix can be deployed in the health care industry to incept
strategic plans for the organizat...
