These products will need a lot of investment to retain their position, to support further growth as well as to maintain This means that star products can be seen as market leading products. Star products all have rapid growth and dominant market share. Let's have a look at what each one means for the product and the decision making process. Products are classified into four distinct groups, Stars, Cash Cows, Problem Child and Dog.
Products in this way provides a useful insight into the likely opportunities and problems with a particular product. The second dimension then measures the product’s market share relative to the largest competitor in the industry. The first dimension looks at the products general level of growth within its market. The matrix assess products on two dimensions.
You could consider using the Product Life Cycle but if you need a current “snap shot” of how the productsĪre doing you would benefit more from using the Boston Consulting Group Matrix.īack in 1968 a clever chap from Boston Consulting Group, Bruce Henderson, created this chart to help organisations with the task of analysing their product line or portfolio. If you are working with a product portfolio you have a range of tools at your disposal to determine how each one or a group of the products are doing. Visit our Marketing Theories Page to see more of our marketing buzzword busting blogs.