The Boston Matrix A Product Portfolio - 1623 Words

Business that provide a wide range of products and services should regularly study their product portfolio. According to Lewis and Trevitt (2007) a product portfolio may be defined as â€Å"the range of products sold or produced by a business†. Businesses who strive for success should regularly study their product portfolio as it could show where the firm stands within the market, this would help a firm decide whether a product or service should be introduced or whether it should be taken off the market (Wolinski, and Coates,2015: 184). A way to analyse a product portfolio is through the use of the Boston matrix a tool that analyses â€Å"the position of a firm’s products in terms of their market share and the growth of the markets they operate in† (Surrdidge, Gillespie; 2002:66). For this assignment the Boston matrix will be analysed and evaluated. By first looking in depth at the Boston matrix, then by exploring the different components of the Boston matrix, a nd finally determining its usefulness for any business. The Boston matrix is a 2x2 matrix of 4 cells each sell includes a component: stars, cash cows, the problem child and dogs Scholes, and Johnson (2001). The x-axis of the matrix shows the market share compared to the largest competitor and the y-axis shows the growth in the market (Lewis, and Trevitt, 2007:137). McDonald (2007:211) explains that products and services are evaluated by market share because it indicates whether the product or service generates any cash-flow,Show MoreRelatedThe Boston Matrix A Product Portfolio1668 Words   |  7 PagesBusiness that provide a wide range of products and services should regularly study their product portfolio. According to Lewis and Trevitt (2007) a product portfolio may be defined as â€Å"the range of products sold or produced by a business†. Businesses who strive for success should regularly study their product portfolio as it could show where the firm stands within the market, this would help a firm decide whether a product or se rvice should be introduced or whether it should be taken off the marketRead More Analyse The Streingths and Weaknesses Of The Boston Matrix As An Aid T910 Words   |  4 Pagesthis essay I will look at the strengths and weaknesses of using the Boston Matrix to help make decisions in business. I will first briefly explain the Boston Matrix and then analyse its effectiveness as an aid to making a marketing strategy. Like Ansoffs matrix, the Boston Matrix is a well known tool for marketing managers. It was developed by the large US consulting group and is a way that a business can compare all of its products. The two aspects it looks at are market share (relative to that ofRead More1. Critically Analyse the Relative Merits of the Strategic Marketing Planning Tools Offered by the Boston Consulting Group770 Words   |  4 Pages1. Critically analyse the relative merits of the strategic marketing planning tools offered by Porter, the Boston Consulting Group and Ansoff. Use a different marketing example for each tool to illustrate your understanding. Strategic marketing involves the management of the process of determining the marketing strategy that is to be followed, and of making sure the strategy is followed correctly, in order for a firm to successfully compete against its rivals; it can be defined as a systematicRead MoreGe Matrix1190 Words   |  5 PagesThe GE matrix is an alternative technique used in brand marketing and product management to help a company decide what product(s) to add to its product portfolio, and which market opportunities are worthy of continued investment. 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At first firm clearly define its organizational mission—ItRead MoreBCG matrix Essay4376 Words   |  18 PagesWidely used in the practice of strategic choice has received a two-dimensional matrix , developed by the Boston Consulting Group. Therefore, this matrix is ​​a matrix known as Boston Consulting Group or BCG matrix . This matrix allows the company to classify the products in its market share relative to its main competitors and the rate of annual growth in the industry. Matrix enables us to determine which products company occupies a leading position compared to competitors , what is the dynamicsRead MoreEssay about The Boston Matrix Market Analysis526 Words   |  3 PagesThe Boston Matrix Market Analysis 1) Following further Market Research it is established the PLP LTD is seen as a company that is not very adventurous and it has nothing set to itself apart from its competitors. In order to change its image with its customer base suggest how the company could move from its present market to a new niche market I would suggest that this company should go into a market niche as their current product lines are not doing to well. TheyRead MorePortfolio Analysis5153 Words   |  21 Pageschapter two PORTFOLIO ANALYSIS INTRODUCTION Organizations market a mix of products or services or both. These constitute the offering that is made through the strategic window. Central to the success or failure of a business is the health of its product (or service) mix. A starting point is the product life cycle concept. This is a useful conceptual framework within which to study how firms can vary their marketing strategies—though of course as we shall see in later chapters they do have to