Essay about The Boston Matrix Market Analysis - 526 Words

The Boston Matrix Market Analysis 1) Following further Market Research it is established the PLP LTD is seen as a company that is not very adventurous and it has nothing set to itself apart from its competitors. In order to change its image with its customer base suggest how the company could move from its present market to a new niche market I would suggest that this company should go into a market niche as their current product lines are not doing to well. They should go into a specific market that no one dominates and bring out a product that does just that. This would increase their profits no end, as the consumers will want this product. As they involved in the promotion of leisure†¦show more content†¦I think that the PLP should keep their present customers because it will be less of a risk if they solely concentrate on the niche market as it could be a complete and it would ruin them. So if they keep there current customers as well as introducing there market niche it will be a lot less low risk. Also if they totally change the name of there new market niche they will attract new customers as well as keeping their current customers. 3) What position of the matrix do you think PLP Ltd is, based on the information given in a case study? I think that PLP Ltd is branded as a dog in the Boston Matrix. This is because they are about ready for the chop, which is why they are going into a market niche. 4) If PLP Ltd were to introduce a new product and aim this at a new market segment, which sector would the new product be placed? Give reasons for your choice. If PLP Ltd was to introduce a new product into a new market segment I believe it should be placed into the Star sector. This is because as it is a new product they will want the product to be quite successful, with a high market growth rate, though compromising its market share. Star products have a high potential for profit, especially if they have a good USP. PLP will wantShow MoreRelated Analyse The Streingths and Weaknesses Of The Boston Matrix As An Aid T910 Words   |  4 Pagesweaknesses of using the Boston Matrix to help make decisions in business. I will first briefly explain the Boston Matrix and then analyse its effectiveness as an aid to making a marketing strategy. Like Ansoffs matrix, the Boston Matrix is a well known tool for marketing managers. It was developed by the large US consulting group and is a way that a business can compare all of its products. The two aspects it looks at are market share (relative to that of competitors) and market growth. To use it youRead MoreProduct Management Using Boston Matrix Tool With Product Life Cycle Management Essay808 Words   |  4 PagesProduct Management Using Boston Matrix Tool with Product Life Cycle Management INTRODUCTION: Oil and gas theft and spillage along pipelines are caused by two major phenomena: damages and ruptures. However, pipeline damages are mainly due to sabotage. Due to diminished pipeline and aging process of the pipes there will be ruptures in pipeline. In Nigeria oil and gas theft and spillage occurs due to a number of causes which include corrosion of pipeline and tankers, sabotage, oil production operationsRead MoreThe Boston Matrix A Product Portfolio1623 Words   |  7 Pagesthe firm stands within the market, this would help a firm decide whether a product or service should be introduced or whether it should be taken off the market (Wolinski, and Coates,2015: 184). 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