Product Flashcards
Product life cycle
Shows the sales of a product over its life. Development, introduction, growth, maturity, saturation, decline
The value of the product life cycle model
Can see how decisions may vary over time as the sales of a product move into different stages
Extension strategies
Increase promotional expenditure, revamp the product, find new target market segments for the product, find new usage
Product portfolio
The range of products a firm produces
Boston matrix
Analyses all of a firms products in terms of their market share and market growth
Dogs
Low market share low market growth
Question marks
Low market share high market growth
Cash cow
High market share low market growth
Star
High market share high market growth
The value of the Boston matrix
Helps managers categorise their products
