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A Framework for Evaluating Opportunities in a Dynamic Market

This redefinition goes far to combat the complacency that often accompanies high market share.

Business development professionals should focus most of their energies on identifying Stars and Questions Marks as good targets. Stars with their requisite high market share participating in high growth markets are the most lucrative opportunities. Question Marks pose more risk due to the low market share, but we recognize that they are competing in a market with upside potential that may more than compensate for the risk. Most Question Marks have low market share simply because they were late to market. Given adequate support and a development of unique selling propositions, they well may thrive and become Stars in their own rights.

Blending Ansoff’s generic growth opportunities matrix with the portfolio approach suggested by the BCG Matrix provides real power to the new product development process. We must be vigilant to pursue opportunities that provide incremental sales and profits, opportunities that take advantage of our core competencies. Further, we must also focus on opportunities that allow us to be part of new and vibrant markets. These new and emerging markets are the very ones where we can truly cash in on any first mover advantages and establish significant market share early on.

REFERENCES

Ansoff, H. Igor. Corporate Strategy. New York: McGraw-Hill, 1965.

Boston Consulting Group. Perspectives on Experience. Boston: Boston Consulting Group, 1972.

Mark Siders, Ph.D., is currently Associate Professor of Marketing at Southern Oregon University. He received his Ph.D. in Management/Marketing from Virginia Commonwealth University in 1998. Prior to entering academia, he spent over 20 years in the orthopaedic industry, holding positions including Product Manager, Director of Marketing, Senior Market Analyst and Project Leader – Sales Operations. Dr. Siders continues to provide consulting services to a variety of industries. He can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it..

Southern Oregon University
School of Business
Central 144, 1250 Siskiyou Boulevard
Ashland, OR 97520
USA
541-552-6709 (phone)
www.sou.edu

OMTEC 2010 Speaker

Dr. Siders presented a session entitled “Pursuing Growth Strategies in the Real World” on Thursday afternoon, June 17 at OMTEC 2010 in Chicago. Dr. Siders lecture addressed these specific points:

  • Market penetration strategies
  • Market and product development strategies
  • Market diversification strategies

Attendees learned to:

  • Use Ansoff’s Generic Growth Opportunities Matrix
  • Compute the trade off between idle capacity and sales volume
  • Define the Competitive Set

Dr. Siders'  detailed lecture abstract and presentation are available online.

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