BCG Growth

Pages:

2 page

Sources:

Solution:

Solution Available NOW

Subject:

BUSINESS & MANAGEMENT

Language:

English (U.S.)

Date:

2023-03-07

Total cost:

$ 7

INSTRUCTIONS:

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 communicate 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

SOLUTION:

BCG GROWTH

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BCG Growth

The BCG Matrix and the GE/McKinsey Model are among the most popular tools of strategic planning. The BCG Matrix denotes a planning instrument that examines the position of an enterprise’s brand portfolio and its potential. It categorizes a corporation’s business unit into four sub-divisions informed by its share versus market growth relative to close rivals. The GE/McKinsey Model refers to a strategy tool that systematically determines which business units need more investment. It has nine cells, providing an enhanced vision concerning the placement of business units. Determining resource allocation, analyzing business news, and future forecasting are reasons why both models are feasible in the healthcare and marketing industries.

Both models can be used in...

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