Some of the terms used in the matrix are explained below:
‘Fast grow means grow business faster than the rate of growth in the market
‘Grow with the industry’ means grow the business at the average rate of growth in the market
‘Focus’ means continue the product in the same market.
‘Find niche’ means develop a small segment of the market for the product
“Retrench’ means cut expenditure and reduce investment.
“Renew’ means introducing new and improved features for the product
“Harvest’ means treat the poduct as ‘cash cow,’ milk the product and do not invest further. [Read more…]