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marketing strategy (growth stage (sales gather momentum, promotion is…
marketing strategy
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decline stage
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the market is shrinking, reducing the overall amount of profit that can be shared amongst the remaining competitors
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stars
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often stars need heavy investment to sustain growth. eventually growth will slow and, assuming they keep their market share, stars will become cash cows
cash cows
long-growth products with high market share. these are mature successful products with relatively little need for investment
they need to be managed for continued profit - so that they continue to generate the strong cash flows that the company needs for its stars
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dogs
refers to products that have a low market share in unattractive, low-growth markets
dogs may generate enough cash to break-even but they are rarely, if ever, worth investing in. dogs are usually sold or closed
product life cycle - is an important concept in marketing. it describes the stages a product goes through from development until it finally is removed from the market.
boston matrix - cash cows need to be milked. using positive cash-flow from them to develop new stars for the future or improve problem children. dogs can also be milked by removing advertisement support and just enjoying profits from loyal customers. problem children may need to be improved in some way e.g. a new name or better promotion