​As the efficacy of traditional growth levers - brand building and new product innovation - has declined, the importance of M&A has grown. Companies need new growth platforms, and this is an additional path. In the example below, only one segment of the market is growing, and the only path in is M&A. 

​Successful M&A, however, requires more than the financial analysis that is typically accorded to it. Successful M&A also requires marketing perspective. Will the acquired brand/portfolio complement the current portfolio, and align it to faster growing targets and market segments? Can it become a growth platform that can be extended further?