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THE FOUR Ps (PRODUCT) (PRODUCT LIFE CYCLE (STAGE 1: DEVELOPMENT (Creating…
THE FOUR Ps
(PRODUCT)
PRODUCT LIFE CYCLE
STAGE 4: MATURITY
STAGE 5: SATURATION
STAGE 3: GROWTH
STAGE 6: DECLINE
STAGE 2: INTRODUCTION
STAGE 1: DEVELOPMENT
Creating a Prototype
Carrying Out Test Marketing
Screening Ideas
Commercialization
Generating Ideas
EXTENSION STRATEGIES
Sell existing products into new markets
Find new uses for the products
Target different market segmentsa
Change the products packaging
Develop new promotional strategies
BOSTON CONSULTING GROUP (BCG) MATRIX
CASH COWS
PROBLEM CHILDREN
STARS
DOGS
BCG MATRIX STRATEGY
Building strategy
Harvesting strategy
Holding strategy
Divesting strategy
LIMITATIONS OF BOSTON MATRIX
May be time-consuming
High market share does not necessarily equate to higher profits
Focuses on the current market position of the firm's products