This lesson we will be learning about The Boston Matrix What do you think this might be about?

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Presentation transcript:

This lesson we will be learning about The Boston Matrix What do you think this might be about?

NO IDEA I NEED HELP NEVER HEARD OF IT OK I CAN DO THIS WITH SUPPORT SOME GUIDANCE NEEDED NEARLY AT MY TARGET GOT IT! VERY CONFIDENT WILL HIT MY TARGET GRADE EXCEED TARGET Success Criteria < C Define key terms, and 4 sections and describe (stars, cows, dogs, children) C > Application to a scenario, assessing how this has been used and describing the advantages and disadvantages. B > Analysis - making recommendations and offering solutions. A >QOWC and SPAG LEARNING OBJECTIVES Explore the Boston Matrix and the 4 elements within

What is Market Research? Write a 3 mark definition ( 3 minutes) QUICK RECAP

What is Market Research? It is the process of finding out information to support a business in terms of planning and development. E.g. Customer needs

What is Market share?

That portion of the market purchasing a particular brand, supplier or company. Calculated as a %. For example: “Microsoft had an 80% market share in word processing programs.” "Toyota had a 25% share of the passenger vehicle market in Japan in 2001." Market Share

Market Share Examples Operating System Market Share of November 2007 Source: of.html

Market share 20 people represent the market. 10 – buy Daz 4 – buy Surf 6 – buy Ariel What market share do the following have? Daz = Surf = Ariel =

Market share 20 people represent the market. 10 – buy Daz 4 – buy Surf 6 – buy Ariel What market share do the following have? Daz = 50% Surf = 20% Ariel = 30%

Boston Matrix A model which analyses a businesses product portfolio. A product is place within 4 categories; Star Cash Cow Problem Child Dog

Stars Stars are successful products. They are products which is growing fast and has a high market share (lots of people want this product)

Problem Children Has a low market share, in a fast growing market. Its not clear what should be done at time? Should we advertise heavily or drop the product? Or perhaps re-develop.

Cash Cows A strong product Which brings in the money. Has a high market share, and loyal customers, but isn’t growing.

Dogs Low growth, low sales. Prospects are poor. Little point investing in. No profit = withdrawal from the market.

DRAW

Don’t put all your eggs in one basket? What might this mean? Can you relate this statement to the Boston Matrix

Don’t put all your eggs in one basket? Firms with just a few items in their product portfolio – or who have all their products at the same stage in the product life cycle – are in the dangerous position of having ‘all their eggs in one basket’. Such firms may prioritise broadening their product range.

Marketing Mix – I need to know... PRODUCT Product Portfolio Analysis (Boston Matrix) Product Life Cycle Extension Strategies PRICE PLACE –PROMOTION

A B B