and BCG matrix
The Boston matrix is a way of allowing a business to put there products in certain areas but its all a matter of peoples opinions.
Cash cow = low market growth and high market share.
Star = high market share and high market growth.
Dogs = low market growth and low market share should be killed.
Question marks = also known as problem child's, high market growth but low market share.
The product life cycle is a way of allowing businesses to gauge where there products stand. There are many ways to gauge where a product is.
Introduction: this is the products introduction stage where the product is only just being noticed and doesn't have much market share or growth.
Growth: this is where the product is becoming more favoured by the public and this will therefore attract more customers and generate far greater profits for the company.