product life cycle/boston matrix
product life style
the product life style is a chart, intro where a product is newly introduced growth is when that product is growing maturity is when its at its highest peak and decline is where that product is now going downhill and not selling.
extension strategies is where a products time of being sold is extended and stay in maturity for example 'mars bars' are never out date.more adverts make a new and improved product more popular.
is a chart where they put products where they are put into 4 catorgies;rising star is when a new product has came out the problem child is where its going down and the cash cow is where its low growth and the dog is where the product is now pointless because it doesn't sell.
market share is where a company owns a certain part of the market for example apple owns 30% of the market.
market growth is where that product or company is going to be well know in the future,it may not be well know now but it has potentional in the future.
product range is where thaty company or product has different rages of that product for example coca cola had a nomal coke but then also has a vanilla and cherry and more.
what to do with a cash cow and dog
for the cash cow you can continue to make that product but dog you will have to stop making that product because its not selling.
what to do with a star or problem child?
a star you should continue to make that product but the problem child should have improvement on it to make it successful.
what is wrong with the product life cycle or the boston matrix?
the Boston matrix and the product lifestyle is bad because it doesn't help you improve it just tells you things you already know.