hi! thanks for the video, it's super helpful :) i was wondering what evaluation points you could use for a longer 12 marker about the use of the Boston matrix for portfolio analysis, how would you effectively make a judgement on this?
Evaluation of the Boston Matrix This analytical tool has relevance when: ■ analyzing the performance and current position of existing product portfolios ■ planning action to be taken with existing products ■ planning the introduction of new products. No technique can guarantee business success - this will depend on the accuracy of the analysis by the marketing managers and the skills they possess in employing appropriate marketing strategies. The Boston Matrix helps to establish the current situation in which the firm’s products find themselves - but it is of little use in ‘predicting’ future success or failure. ■ On its own it cannot tell a manager what will happen next with any product. Detailed and continuous market research will help - but at all times, decision-makers must be conscious of the potentially dramatic effects of competitors’ decisions, technological changes and the fluctuating economic environment. ■ It is only a planning tool and it has been criticized as simplifying a complex set of factors determining product success. ■ The assumption is made that higher rates of profit are directly related to high market shares - this is not necessarily the case when sales are being gained by reducing prices and profit margins.
Is it possible for businesses to go from DOGS to CASH COW ?? what i mean is do all businesses go through the Boston Matrix the direction you described it or can they sometimes be different?
What a fabulous question! Let's see if we can help... First of all, it's important to point out that the Boston Matrix is not applied to a business, it is used to categorise their products. So a business can not be referred to as a DOG, but one of the products in their portfolio can. Secondly, you are absolutely correct in your assertion that products can move through the matrix in different ways. For example, you are spot on to say that a dog, through an appropriate extension strategy that rebuilds its market share, can return to being a cash cow. This might not be all that common, but it is possible. Similarly, some products may be problem children/question marks when first released and never go on to become stars or cash cows because their market share never grows large enough. They go straight from being question marks to being dogs. So you are absolutely correct - products can take a more unconventional journey through the matrix. Hope this helps!
love you man i've been struggling with this for two semesters until quite literally ten minutes ago, owe you my life
Although my teacher is great... you are better 😊 thanks for the videos and your hard work, you've saved many business/economics students!!!!!!
what did you get?
very well explained...
You're too kind - thanks for taking the time to leave a comment
how did you do inthe exam?
Thank you, I’m subscribing to this Chanel
hi! thanks for the video, it's super helpful :) i was wondering what evaluation points you could use for a longer 12 marker about the use of the Boston matrix for portfolio analysis, how would you effectively make a judgement on this?
Evaluation of the Boston Matrix
This analytical tool has relevance when:
■ analyzing the performance and current position of existing product portfolios
■ planning action to be taken with existing products
■ planning the introduction of new products.
No technique can guarantee business success - this will depend on the accuracy of the analysis by the marketing managers and the skills they possess in employing appropriate marketing strategies. The Boston Matrix helps to establish the current situation in which the firm’s products find themselves - but it is of little use in ‘predicting’ future success or failure.
■ On its own it cannot tell a manager what will happen next with any product. Detailed and continuous market research will help - but at all times, decision-makers must be conscious of the potentially dramatic effects of competitors’ decisions, technological changes and the fluctuating economic environment.
■ It is only a planning tool and it has been criticized as simplifying a complex set of factors determining
product success.
■ The assumption is made that higher rates of profit are directly related to high market shares - this is not
necessarily the case when sales are being gained by reducing prices and profit margins.
IT will quickly become and old people's home and full of dogs! Lol that made me laugh for about 5 minutes
10:32
can the Boston matrix be applied to a question asking for the marketing strategies of existing markets and their benefits and drawbacks
Best channel.
you are doing great job Sir
Thank you! I hope you are finding the videos useful.
this is amazing wow my business teacher cud never
Is it possible for businesses to go from DOGS to CASH COW ?? what i mean is do all businesses go through the Boston Matrix the direction you described it or can they sometimes be different?
What a fabulous question! Let's see if we can help...
First of all, it's important to point out that the Boston Matrix is not applied to a business, it is used to categorise their products. So a business can not be referred to as a DOG, but one of the products in their portfolio can.
Secondly, you are absolutely correct in your assertion that products can move through the matrix in different ways. For example, you are spot on to say that a dog, through an appropriate extension strategy that rebuilds its market share, can return to being a cash cow. This might not be all that common, but it is possible.
Similarly, some products may be problem children/question marks when first released and never go on to become stars or cash cows because their market share never grows large enough. They go straight from being question marks to being dogs. So you are absolutely correct - products can take a more unconventional journey through the matrix.
Hope this helps!
Well done
Great video!
Love your videos thanks!! Can you do a video about a Rogers diffusion or innovation???
Excellent explanation boss👌
Good luck to all fellow A level sufferers in the next few weeks
thank you for talking the bizz!!!!
Thank you
THE BEST
Great video, I was wondering if you have done any videos on entrepreneurs or leaders
He’s done leadership first ever video
Thanks
is problem children and qusetion mark are the same thing sir?
Exactly the same
@@TakingTheBiz thank you so much sir you are great business teacher.
great
My guy
I’m honestly never going to understand any of this 😪🤬
I'm actually looking for some people to ask question so I can answer them...........
What two pricing strategies are used for new products
@@sharman9383 skimming & penetration duuudd
Lee Ham what are the disadvantages of using price skimming?
👌🤌