In this essay I will look at the strengths and weaknesses 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 Ansoff's 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 you would look at all of your products and sort them into 4 categories, stars (products with a high market growth and a high market share), cash cows (high market share in a market with little growth), problem children/question marks (low market share in a growing market) and dogs (low market share in a market with no growth). There needs to be an equilibrium of the different types in your product portfolio. Never have any dogs, but try and keep the same amount of the other 3 types. This means that funds can be evenly distributed between the 3, money generated from cash cows needs to be spent turning problem children into stars, which will eventually become cash cows, and the cycle continues. Some problem children will become dogs, and money from cash cows may also have to be spent compensating for these failures.
The Boston Matrix is commonly used to try and help plan the future of a company as well as simply categorising products. Bu...
Strategic planning is crucial for the success of all business endeavors. Analyzing currents trends in technology, consumer markets, competition, and the workforce can play a pivotal part in whether or not the organization can survive. Overtime, strategic planning strategies must be modified in order to compensate for changes in the industry. Goals and strategic planning often necessitate change to ensure that the organization is performing at peak level, while offering the most beneficial and quality services to consumers.
In conclusion, taking this perception from Suetonius, Octavian character develops through years, as starting as a teen, who could barely control army, to the savior of Rome. During time of the Second Triumvirate, starting with three man leading the Roman Empire, Octavian wipes out Lepidus, for his mistake of try of undertaking Octavin’s legions, Antony, who had as his mistress, Cleopatra, and put their children in his will as heirs for the rule. From that on, Octavian becomes a sole ruler, and starts to building his image and changing Rome-‘Marmoream se relinquere, quam latericiam accepisset’(‘I found Rome build a of bricks; I leave her clothed in marble’.(Suet;28p.69))
Before the rise of the Roman Empire, there had been a civil war between Octavian and Marcus Antonius. The two had been close allies before the dispute, which had lasted over twenty years in the Roman State1. The civil war could have been avoided due to the errors made by both parties. Mark Antony abused his power as consul; it is also assumed that he had committed adultery. Octavian exploited Mark Antony of his crimes and made him an enemy of the state.
Pearce II, J. A., & Robinson, R. B. (2011). Strategic Management 12th Ed. New York: McGraw-Hill/Irwin.
Freedom is having the right to own, act, think, and speak without any restrictions from the outside. Ever since the New World was discovered, people have been fighting for their independence till this day. People of other colors and race have been forced to do labor without their consent. Today, those same people have been blamed or accused of crimes that were not committed by them despite of being free. Freedom has different meanings and those meanings change overtime; however sometimes the significance of freedom does not change.
In 49 BC, Julius Caesar crossed the river Rubicon and ignited a civil war; which not only preceded his rise to power, but ended the Roman Republic and initiated the ascension of Gaius Octavius (Octavian) and the Roman Empire. Caesar’s reign was the fulcrum that permanently transformed Rome. Julius Caesar was a superb general and a clever politician. However, it was Octavian that became Rome 's first official emperor and gave the ancient world the Pax Romana. Both Men altered Roman society, government and influenced the development and culture of the future western world. Prior to the first century, the world was ruled by Rome; however, Rome was struggling to govern itself. Caesar and Octavian warrant recognition for their achievements, but
The Boston matrix can be tailored to Benetton to demonstrate how Market share can be gained by investment in marketing, Market share gains will always generate cash surpluses in the company, Cash surpluses will be generated when the product is in the maturity stage of the life cycle, The best opportunity to build a dominant market position is during the growth phase. The 4 categorise can could help Benetton be more successful in creating a better market share and growth.
A Civil War left Rome fractured and chaotic. No decisions were being made and the senate was no longer concerned with the wishes of the people. The average Roman was fed up and looking for a since of security. Peace could only be brought to Rome if there was someone in charge that could at least make a decision (Baker 157). When an opportunity presented itself, Octavian was not slow to react. He got into character, and marched on Rome as a statesman ready to put on a show. He came in as a cold pragmatist looking to destroy those who fractured Rome for so long. He immediately made Brutus and Cassius enemies of the state for killing the former tyrant Caesar. Octavian then appealed to the people by tapping into the ancient morals of Rome. He made
The BCG matrix is also a matrix that is used for the purpose of strategy formulation of a firm, but it is a four cell matrix. It is used to measure the position of a firm in relation to its relative market share as well as its market growth. In case of these two being high a firm is classified as a star. In case of these being low they are classified as dogs. In case of only a high market growth it is rated as a cash cow and in case of only a high market share it is rated as a question mark. Based on this t...
Companies all over the world varies but yet shares a common challenge, that is to solve problem not only effectively and efficiently but also creatively. The P-O-L-C framework which stands for Planning, Organising, Leading and Controlling plays a major role in both the company’s survivability and success. The SWOT analysis looks at both internal and external factors that can affect the Starbucks’s performance. The purpose of this report is to define and analyse how Starbucks respond and should have respond to the change of its external environment on the cofee market,This report will also identify and disscuss how The P-O-L-C framework and can help starbucks to compete and reduce the loss of their failing peformance in the Australian market and how SWOT analysis helps to define some externalities that can be a threat to Starbucks.
Timm, Dianne M., and Carolyn J. Duven. "Privacy And Social Networking Sites." New Directions For Student Services 124 (2008): 89-101. Academic Search Premier. Web. 29 Feb. 2015.
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
A key part of an organizational strategy is to identify market opportunities by finding a niche or a gap in the marketplace that they can pursue to take their company ahead of all their competitors. An organiz...
Petty Ross D. Editor's Introduction: The What and Why of Marketing; American Business Journal, Vol. 36, 1999
The business plan will also be useful in facilitating the adoption of a strategy that will help the business prosper in the modern market. The plan will be a critical tool that will help in the production of a reliable strategy for attaining the goals and objectives. The proposed business plan will be implemented in three years time. Within the first three years, the business i...