Arthur D Little Matrix
Helen Strong
Arthur D Little (ADL) Matrix: Purpose
This useful tool assists organizations in developing appropriate strategies for their companies and their products. The ADL Matrix is applied when a company is reviewing its product portfolio or conducting a strategy planning exercise in which allocation of resources is being considered. In preparation for mergers and acquisitions, the matrix will identify a division’s products that should be retained or divested.
ADL Matrix Structure and Description
The philosophy is that competitive forces in the marketplace should be considered in conjunction with the industry’s life cycle phase, thereby modifying the strategic thrust of the business. The matrix cells emerge from a cross tabulation of the industry life cycle stage against five categories of competitiveness in the market (Table 1.1).
ADL Matrix: Strategic Considerations
Defining the direction of the business effort, efficient allocation of resources, positioning of the organization, and achieving optimal profitability are some of the major strategic decisions that can be developed through this model.
As we can see from the model, the researcher is required to identify the phase of the industry life cycle and to assess the strength of the company and its competitors within its defined market. However, deciding the current life cycle phase of an industry is a matter of science and judgment.
Table 1.1 ADL Matrix
Depending on the industry stage and the strength of the company, the model suggests strategies ranging from all-out push for share to abandon. However, this advice is in the absence of knowing the cost of the strategies that would need to be adopted to have an effect on the market share and profitability. There is a cost involved even if one decides to exit the market.
Withdrawal considerations would include the rate of decline, the number of competitors remaining in the market, the nature of the product, capital invested, and extent of the fixed costs. The company will try to maximize income, reduce losses, or do both when predicting the optimal closedown date. The decision will write off the sunk costs (irrecoverable costs), while ensuring that ongoing management and operational costs are covered by the remaining income.
ADL Matrix: Implementation
To apply the model, there are three decisions that need information:
- What is the industry stage?
- Who are the competition, and how strong is their position in the market?
- What return on investment (ROI) is required from the implementation of the indicated strategy (such as push for share, hold position, or exit)?
Industry Stage
First, one needs to do the following:
• Consider the date of introduction of the product. The closer to the launch date of the first product of its type in the market, the closer is the industry to the embryonic stage. However, even this is not necessarily an accurate guide to the life stage.
For example, US Patent 887,357 filed by N.B. Stubblefield
informs us that the concept underlying mobile phone technology was first made public in 1918, but it was not until about 1970 that network technology facilitated a truly commercial mobile phone. There were obviously many iterations between the original idea and today’s sophisticated phones, which are essentially a combination of phone and computer.
• Look at growth rates within the market. In-company records and secondary research should yield consumption patterns and trends from the introduction of the product class, to date. The theory says that there are two important divides that occur between innovators and early adopters and then between early adopters and late adopters. The first is due to the technology not providing sufficient benefit to generalize to the masses. The second chasm occurs due to the degree of difficulty of adopting the new product.
• Conduct consumer researchG. amongst companies, with the objective of categorizing the target market attitudes and behavior relative to your product and according to the innovation adoption cycle. You would test your findings of companies’ purchase or intention to purchase against the normal bell-shaped curve identified by Rogers (1995).
He used the classifications:
- Innovators (2.4%)
- Early adopters (13.5%)
- Early majority (34.0%)
- Late majority (34.0%)
- Laggards (16.0%)
For example, if you found that 25 percent of the possible market had already purchased the product, then you could say the industry phase is likely to be at early part of the growth stage.
A good summary of the factors and elements associated with the rate of diffusion and the adoption process is found on one of the Pennsylvania University sites (Personal.psu.edu 2001). These variables could also be included in the market research conducted when seeking to establish customer profiles.
• Study elements of the market and marketing mix to provide indicators as to the industry stage.
○ Place or distribution
- Is the product widely available, or found in limited areas only? The latter is an indication of either the embryonic stage, or of niche marketing by players in the market.
○ Pricing
- Examine the average price per unit and estimate profit margins.
- Product developers try to recover their developmental costs, and take advantage of the desire of innovative consumers to adopt the latest technology or product. Hence at launch, the cost of a new product will be priced at a premium.
- As competitors enter a market, it is likely that they will compete on price, thereby bringing down the margins for most producers.
- Discounting and special offers tend to indicate that the market is mature or declining.
- Lower profit margins indicate maturing industries.
○ Promotion
- Is the content of the advertising concerned with raising awareness, with extending the geographic coverage of users, or with increasing applications of the product? The first would be associated with a launch, and the latter with expanding the market, indicating a growth-type environment.
- Track the weight or spend of advertising. Again the launch is associated with heavy expenditure, whereas reminder-type advertising (less frequent) occurs further along the curve.
○ Product
- Examine the performance of the available products. Upgrades are associated with growth or a more mature industry, especially when technology becomes available to improve performance.
- Relate the products’ performance and functioning to the evolution of consumer needs. What is happening within the market to stimulate or depress use of the products within the industry being considered?
Remember that an industry life cycle can also be subject to disruptive innovationG. This takes place when a product development takes place that is not a natural progression from products that have existed before. The disruptive product anticipates or recognizes a latent consumer need and usually achieves disruption by redefining the business model of the industry.
Whilst individual products within an industry may have reached their maturity, the industry itself may not be as far along the life-cycle curve. For example, vehicle models have a limited life span, but there is still a need for some form of transport to move people from one point to another.
Embryonic industries tend to be ones where technology has opened a new vista of knowledge with the potential for entirely new applications. For example, marine and other renewable energies; products emerging as a result of the human genome project; stem cell research; 3D organic printing; products designed to deal with space travel, all fall within the definition of embryonic industries.
- Other indicators of maturity
Klepper (1997) provides an interesting article on strategies, using the automobile and airline industries to illustrate the relationships of indicators of market stage. Researchers also examine the following factors to help pinpoint the industry life stage:
○ Establish the extent of investment being made in research and development (R&D). Declining markets will not see money ploughed into research due to the unlikelihood of recovery of the investment costs. Products in pharmaceutical markets face obsolescence due to development of new drugs as the industry is typically driven to improve the efficacy of treatment. The industry is mature, but the need for treatment grows with the population growth, changes in lifestyle, food intake, and the environment.
○ Consider the number of complementary products available. If there is a strong side industry of such products, then you will probably be dealing with a growth stage for the main product.
○ How standardized is the industry? Existence of generally accepted standards will indicate more mature industries.
○ How mechanized are the production processes? Increasing mechanization indicates the industry would be in growth or mature stages. (Production lines in South Africa are not as likely to be as automated compared with the developed world, due to the country’s concern with providing job opportunities.)
○ Track entrants and departures from the industry. During the initial growth stage, it is likely that the industry will see the emergence of many competitors attracted by the potential profits to be made with the innovation and launch of new products. Many of the entrants do not survive due to the difficulty of setting up new businesses. Hence this count of number and size of competitors is another marker for the life stage of an industry.
○ How concentrated is the industry? Typically in a mature market, three or four dominant players will hold 80 percent of the market share.
○ Linked to declining profitability, some of the companies will explore vertical integration to (a) keep additional competitors out of the market, (b) to increase control on pricing, and (c) to generate additional profits.
○ Emergence of generic brands is also an indicator for market maturity.
Competitors’ Strength
When assessing competitive strength, the researcher needs to investigate:
- Which companies (and if applicable, parent or holding companies) compete in selling products and services to fulfil a particular customer need?
- Market leadership in terms of the following:
○ Market share of their product(s)
○ Innovation or technical excellence
○ Business intelligence (BI) and IT capability
○ Customer engagement
○ Strategic alignment with market drivers
○ Sophistication of supply chain
○ Quality of products
○ Financial stability
○ Production capacity
○ Distribution
○ Caliber of sales force
ROI to Support Chosen Strategy
Having considered the industry life stage together with the competitive conditions in the market, the final step in selecting a strategy is to test the returns available from investment in the advertising and promotional activities for customers’ movement up the brand resonance ladder. (See Nichols 2013 for the Analytics 2.0 approach to incorporating measurement from all traditional and modern media [such as the Internet, social media, and use of mobile technology].)
To measure the ROI, both the level and type of advertising and promotion need to be tracked and measured against sales increases. For this reason, it is important to keep records of all types of expenditure, movement of consumer awareness and attitudes, and commensurate purchase or sales outcomes.
In the retail environment, the author has shown that it is not only absolute, but relative adspend share that influences the growth in market share in the following month. This suggests that ad and promotional spend for all competitors in the market needs to be tracked.
Nichols (2013) suggests that there are three elements that need to be measured: attribution, optimization, and allocation. This refers to the role of the medium in meeting objectives, finding the right level of spend, and then actively allocating and managing the budget to maximize returns.
ADL Matrix: Conclusions
To maintain the model’s relevance, systems need to be put in place to track industry metrics and changes. This applies especially in fast-moving markets such as electronics and high-tech products where experimentation and innovation change the landscape within months rather than years.
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