What categorizes growth strategies in business according to a specific matrix?

Growth strategies in business are categorized according to Ansoff's Matrix, which provides a structured approach to identify potential growth options by evaluating market and product strategies. This matrix is divided into four quadrants that represent different growth strategies: market penetration, market development, product development, and diversification.

Market penetration focuses on increasing sales of existing products in existing markets. Market development involves introducing existing products to new markets. Product development seeks to create new products for existing markets, while diversification entails launching new products in new markets. By using Ansoff's Matrix, businesses can assess the risk associated with each growth strategy and make informed decisions regarding expansion.

The other frameworks mentioned serve different purposes. Porter's Five Forces analyze competitive dynamics within an industry, PEST Analysis evaluates external environmental factors affecting business performance, and SWOT Analysis identifies internal strengths and weaknesses alongside external opportunities and threats. While these tools are valuable in strategic planning, they do not specifically categorize growth strategies as Ansoff's Matrix does.