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G.product decision 7

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G.product decision 7

  1. 1. Products Decisions• Product and Service Classification System• The Product Life Cycle• Introduction to product matrices• Boston Matrix (Growth/Share)• Ansoff’s Matrix (Product Market)
  2. 2. Product and Service Classification System• Convenience goods - little effort, relatively inexpensive• Shopping goods - e.g ‘white goods’, DIY equipment, more expensive, infrequent• Speciality goods - extensive search e.g Jewellery, gourmet food• Unsought goods - e.g. double glazing,
  3. 3. • Industrial goods• Installations - ‘speciality’ goods of industrial markets - plant and machinery• Accessories - maintenance and office equipment• Raw materials• components• Business to business e.g. consultants, accountants
  4. 4. The life product cycle model Development Growth Maturity Decline Few: Growing adopters: Growing selectivity Saturation of Drop-off trial of trial of of purchase users in usage early product/service Repeat purchase adopters reliance Entry of May be many Fight to maintain Exit of some competitors share competitors
  5. 5. The Boston Matrix (Growth/Share Matrix) Market Share High 3. Question 1. Stars Mark (ProblemMarket Child)Growth Low 2. Cash Cows 4. Dogs High Low
  6. 6. The Boston Matrix - Chocolate Bars Market Share High Maverick FUSE Miniature HeroesMarketGrowth KIT KAT TOPIC Low MARS BAR BOUNTY High Low
  7. 7. Ansoff’s Matrix (Product/Market Matrix) Existing Markets New MarketsNew Products Existing Products Market Market Development Penetration Product Development Diversification
  8. 8. Ansoff’s Matrix (Product/Market Matrix) Existing Markets New MarketsNew Products Existing Products E.g. Realignments E.g. Geographical of the marketing expansion mix Same outlets and Diversification - sales strategy related or unrelated - new product
  9. 9. Products Decisions• Product and Service Classification System?• The Product Life Cycle stages?• Growth/Share?• Product Market?

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