What are the different techniques used in growth matrix models?

Growth matrix models utilize a variety of techniques to assess and strategize business development opportunities. The Ansoff Matrix, for instance, hinges on four core strategies: Market Penetration, Product Development, Market Development, and Diversification. This framework helps businesses evaluate risks in each quadrant as they consider growing with existing or new products in existing or new markets. Another approach is the Boston Consulting Group (BCG) Matrix that positions business units or products according to market growth rate and relative market share, leading to categorizations as Stars, Cash Cows, Question Marks, or Dogs. These labels help companies decide how to allocate resources effectively. The GE/McKinsey Nine Box Matrix offers a more nuanced understanding by including industry attractiveness and business unit strength in its analysis, facilitating more sophisticated investment decisions. Collectively, these techniques provide structured pathways for businesses to plot their growth trajectories through careful evaluation of their market positioning and strategic potential.