Project: Growth Matrix

Growth Matrix Name: Institution: Course: Tutor: Date of submission: Growth matrix The growth matrix that best suits Smith Management LLC is the Ansoff product and market growth matrix. This growth matrix is unique as it looks at the growth from an internal and external perspective. If Smith Management is to expand, the secret lies in marketing the new services and existing services in the current as well as the new markets. The growth strategy is divided into market penetration, product development, diversification, and marker development. (Thompson, Strickland, & Gamble, 2009) Market penetration deals with the section of the analysis that will look into the ways through which Smith Management LLC will stand out in the industry. The company stands a good chance with regards to market penetration. This is to be established by improving the company`s image as well as introducing new services into the market. Through enhancing the relationship that exists between the customers and the company as well as ensuring the st...