Product Life Cycles and the Boston Matrix - Masaryk University

Product Life Cycles and the
Boston Matrix
Copyright 2005 ¨C Biz/ed
Product Life Cycles and the Boston
Matrix
? Product Life Cycle ¨C shows the stages
that products go through from
development to withdrawal from the
market
? Product Portfolio ¨C the range of
products a company has in
development or available for consumers
at any one time
? Managing product portfolio is important
for cash flow
Copyright 2005 ¨C Biz/ed
Product Life Cycles and the Boston
Matrix
? Product Life Cycle (PLC):
¨C
¨C
¨C
¨C
Each product may have a different life cycle
PLC determines revenue earned
Contributes to strategic marketing planning
May help the firm to identify when a
product needs support, redesign,
reinvigorating, withdrawal, etc.
¨C May help in new product development
planning
¨C May help in forecasting and managing cash
flow
Copyright 2005 ¨C Biz/ed
Product Life Cycles and the Boston
Matrix
? The Stages of the Product Life
Cycle:
¨C
¨C
¨C
¨C
¨C
¨C
¨C
Development
Introduction/Launch
Growth
Maturity
Saturation
Decline
Withdrawal
Copyright 2005 ¨C Biz/ed
Product Life Cycles and the Boston
Matrix
? The Development Stage:
? Initial Ideas ¨C possibly large number
? May come from any of the following ¨C
¨C
¨C
¨C
¨C
¨C
¨C
Market research ¨C identifies gaps in the market
Monitoring competitors
Planned research and development (R&D)
Luck or intuition ¨C stumble across ideas?
Creative thinking ¨C inventions, hunches?
Futures thinking ¨C what will people be
using/wanting/needing 5,10,20 years hence?
Copyright 2005 ¨C Biz/ed
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