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Questions and Answers
Which of the following best describes the purpose of the Boston Matrix?
Which of the following best describes the purpose of the Boston Matrix?
- To categorize the position of products and brands (correct)
- To analyze the competitive position of businesses
- To make decisions about business strategy
- To assess the portfolio of business units
What does the Boston Matrix help businesses assess?
What does the Boston Matrix help businesses assess?
- The competitive position of their products
- The overall strategic position of the business
- The portfolio of business units (correct)
- The competitive position of their brands
In what way is the Boston Matrix a model?
In what way is the Boston Matrix a model?
- It assesses the portfolio of business units
- It analyzes the overall strategic position of a business (correct)
- It categorizes the position of products and brands
- It helps businesses make decisions
What is the Boston Matrix useful for?
What is the Boston Matrix useful for?
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What is the main focus of the Boston Matrix?
What is the main focus of the Boston Matrix?
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Study Notes
Boston Matrix Purpose
- The Boston Matrix is a tool used to evaluate a business's product portfolio and determine the best way to allocate resources.
- It helps businesses assess their products or services in terms of their market growth rate and relative market share.
- The Boston Matrix is a model that categorizes products into four quadrants: Stars, Cash Cows, Question Marks, and Dogs.
- This model is useful for identifying opportunities for growth and profitability, as well as identifying areas where resources may be wasted.
- The main focus of the Boston Matrix is to provide a framework for businesses to analyze their products and make strategic decisions about investments and resource allocation.
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