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TO LET LIVE OR LET GO! (PRODUCT PORTFOLIO ANALYSIS (TOOL USED: BCG MATRIX,…
TO LET LIVE OR LET GO!
PRODUCT MIX
product mix or portfolio or assortment consists of all the product lines and items that a particular seller offers for sale
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BCG MATRIX
BENEFITS: useful 'map' of the organisation's product strengths and weaknesses; helps analyse which segments are in good position and which ones aren't; help decide on the most appropriate investment strategy for business in the future, and where best to allocate resources; helps to plan the product lifecycle of product mix; helps avoid pressure on cash position
LIMITATIONS: data collection for market growth and market share can be expensive; difficult to define "high" or "low"; growth rate may only reflect one aspect of industry attractiveness. may not truly reflect profitability; BCG takes reference to only larger competitors and may not result in an oversight to "future threats"; focus is on classifying current businesses products
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