Product Life Cycle/Boston Matrix

Jasmine Suman

Product life cycle - The four stages of a product

Extension Strategies - Ways to extend the product and make it better

Boston Matrix - Four categories that helps a product identify where they are

Market Growth - High growth means doing well and the product will continue selling

Product Range - Where one company has a range of products

Market Share - How much a company owns of the market

Product Life Cycle Stages.  -introduction - growth -maturity -decline

Extension Strategies. -adding more features -change the size -lower price -widen product range

What to do with a Cash cow and Dog? Cash cow can continue to make them and stop reject the dogs

What to do with a star or problem child? Stars will continue to be a success and problem child will be improved

What is wrong with the product life cycle and / or Boston Matrix? The product life cycle doesn't actually tell you what is wrong and needs improving with the product and the Boston matrix is influenced by individual likes