Final answer:
In the BCG matrix, firms with high market share in high-growth industries are classified as Stars. They are expected to be the market leaders and require continuous investment to maintain growth and market share.
Step-by-step explanation:
In the BCG matrix, firms enjoying high-market share in high-growth industries would be classified as Stars. These are the products or business units that have a high market share in a fast-growing industry. Stars are viewed as market leaders and are often in the early or rapid growth phase. They typically generate large amounts of income because of their strong relative market share, but also consume large amounts of cash investment to maintain or increase their market share.
Firms that are labeled as Stars are expected to turn into cash cows as the industry growth slows, assuming they maintain their high market share. Stars require careful management to ensure they sustain their growth and extend their profitable lifespan. This may include investing in marketing, infrastructure, and product improvements to fend off competitors. An example of a Star could be a tech company at the forefront of an emerging market or a new pharmaceutical product that meets an urgent medical need.