Kotler's Matrix, also known as the Product-Market Expansion Grid, has several practical applications in the retail industry. It can be used to identify growth opportunities by examining potential product-market combinations. For instance, retailers can use it to decide whether to introduce new or modify existing products, enter new markets, or target new customer segments. It can also be used to assess the risk associated with each growth strategy. Furthermore, it can help in pricing decisions by comparing the perceived value and price of different products.
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