Boston Product Matrix - Free Business Essay - Essay UK.
Water products are most likely to be classed as a Dog. The BCG matrix is linked to the Product life cycle. Introduction, growth, maturity and decline, it represents Question marks, Stars, Cash cows and dogs in the BCG matrix respectively.
In this 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 Ansoff's matrix, the Boston Matrix is a well known tool for marketing managers.
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The Matrix essays are academic essays for citation. These papers were written primarily by students and provide critical analysis of The Matrix by The Wachowskis. Jean Baudrillard’s Concepts of Simulacrum and Hyper-Reality Across Media: Strange Days, The Matrix, and White Noise.
The BCG (Boston Consulting Group) Matrix is an assessment tool, used by many companies in order to evaluate the efficiency of various business units and product line. A manager, who applies this method, focuses mostly on the balance between cash spenders and cash generators (Butje 2005, p 157).
How does the Boston Matrix work? The four categories can be described as follows: Stars are high growth products competing in markets where they are strong compared with the competition. Often Stars need heavy investment to sustain growth. Eventually growth will slow and, assuming they keep their market share, Stars will become Cash Cows.
This type of decision requires more sophisticated analysis than the Boston Matrix can offer and an organization may need to invest heavily to transform a Question Mark product. Investment could involve a relaunch of the product, creating a new image that fits the consumer profile better, or some redesigning of the product or service in response to changing market conditions.