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Product Portfolio and Boston Matrix Overview

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Product Portfolio and Boston Matrix Overview

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Questions and Answers

What defines a product portfolio within a company?

The financial performance of products over a specific period

The market share of a company's products in comparison to competitors

The collection of all products and services offered by the company (correct)

The strategies implemented to boost product sales

Which factor is NOT part of the Boston matrix dimensions?

Market share

Market potential

Market demand (correct)

Market growth

Which of the following statements is true regarding star products?

They have high market share in a high growth market. (correct)

They occur in declining market segments.

They are always profitable immediately upon launch.

They typically require minimal marketing investment.

What's a characteristic of question mark products in the Boston matrix?

They have low market share but high growth potential. Signup and view all the answers

How should a company approach marketing for its star products?

Maintain current marketing spend to sustain high sales. Signup and view all the answers

Which of the following best describes cash cow products?

They generate steady income with low investment needs. Signup and view all the answers

What determines whether a question mark can transition to a star?

High investment in marketing and promotion Signup and view all the answers

What essential action must a company take to manage question mark products effectively?

Invest heavily in marketing and promotional activities. Signup and view all the answers

In what scenario would a product likely transition from a star to a cash cow?

The growth potential declines while market share remains high. Signup and view all the answers

How does the Boston matrix assist marketing managers?

By helping manage a product portfolio effectively. Signup and view all the answers

Study Notes

Product Portfolio

A company's entire collection of goods and services offered is their product portfolio.
Analyzing the portfolio helps understand sales, profits, and growth potential.

Boston Matrix

A tool for marketing managers to plan a balanced product portfolio.
Analyzes market share and market growth to assess a product's potential.

Star Products

High market share and high market growth.
Require significant marketing to maintain sales.
Can evolve into cash cows with effective marketing strategies.
Example: Lynx for Unilever.

Question Mark Products

Low market share but high market growth.
Potential to become stars with proper management.
Need significant investment in marketing and promotion.
Example: Unilever's mini Berry Truffle magnum product.

Cash Cow Products

High market share and low market growth.
Generate strong profits with low marketing expenses.
Can fund the development of other products.

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Description

This quiz covers the fundamentals of product portfolios and the Boston Matrix model. It explores the types of products within a portfolio, including stars, question marks, and cash cows, and their significance in marketing strategy. Test your understanding of how these concepts impact sales and growth potential.