Product Life Cycle / Boston Matrix

By Tanika Paul

Product Life Cycle - 4 stages of the Product

Boston Matrix - 4 categories to help a product know where they are

Market share - How much a company owns on the market

Market growth - High market got potential for future

Product range - A company different products (range)

Extension strategies - A continuous buy

Product Life Cycle stages - Introduction, growth, Maturity, Decline. Widen advertising

Extension Strategies - Add more features change the size lower price

What to do with a Cash cow and a Dog?- If your product is in the Cash cow you would continue to make the product as it is being successful. If it was in the Dog category you would have to get rid of it as it is not successful.

What to do with a Star or Problem child? If the product is a Star you would continue to make it and even more successful. Lastly,  the problem child t would need major improvements.

what is wrong with the Product Life Cycle? Does not help anything