Imagine that you work for the Chief Executive Officer (CEO) of Coca-Cola. He asks you for an opinion on a recommendation by the company’s Chief Marketing Officer (CMO) to raise their advertising budget from $3.2 billion to $3.5 billion. Should Coke spend an additional $300 million on advertising? The Chief Financial Officer (CFO) is opposed, saying the money would be better spent elsewhere.
In a now classic Harvard Business Review article, Ansoff (1957) identified four strategies for business growth. These four strategies also identify four basic types of marketing plans and the types of investments and activities associated with each. The strategies are defined by whether the focus is on new or existing products and new or existing markets.
In their quest for sustainable growth, brand owners may find themselves in one of two categories in regards to brand licensing:
The Boston Matrix, also known as the Growth-Share Matrix, made famous by Boston Consulting Group helps you understand the market opportunity, appropriate investment level and messaging style.
Every business begins with a single product, a single segment, and a single way of going to market.
