How Can A Business Use The Boston Matrix To Manage Their Product Portfolio? - Business Studies - Assignment

424 words - 2 pages

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Discuss how can a business use the Boston Matrix to manage their product portfolio? (10)

The Boston Matrix is a technique used to analyse a business product portfolio. It considers each product within the portfolio in relation to its market share and rate of market growth.

A business can use the Boston Matrix to manage its product portfolio as the Boston Matrix helps analyse the market growth and market share of a product. This affects the business as they can see how well their products are doing in the market and may lead them to innovate their products if they are not doing so well as innovation will attempt to make the product better. This can also increase revenue as customers will pay more for a better product. An example of a business using a Boston Matrix is the technology company Apple. They saw that their earphones had a high market share yet low market growth so they innovated the product and created the Airpods. The AirPods are now their rising star. Because the target market ranges from teens to adults they will be forced to fasten market research this leads to them being able to have more products with the most market share and growth like their range of I phones. Theref...

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How Can A Business Use The Boston Matrix To Manage Their Product Portfolio? - Business Studies - Assignment

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