Product portfolio analysis - short answer questions
Advise an ice cream manufacturer on the advantages and disadvantages of using a Boston Matrix before re-launching and developing their existing product range.
At the monthly marketing meeting for 'Toys were Us', the marketing director made the following statement:
'Yes we have had some dogs, but we look carefully at product plans and aim to get as many cash cows as possible. Although this takes time and money it means we seldom get it wrong. Kids like our toys and parents trust them. It's a long process, but the result is that we now have a stable of stars.'
- Define the following terms:
- Cash cow
- Explain how this toy manufacturer may have created its portfolio of 'star' products?
- Analyse marketing approaches to maintain their cash cows' popularity.
- Evaluate strategies for dealing with dog products