The difference between the BCG Matrix and the Product life cycle ? 3. The BCG matrix mainly studies the allocation and use of corporate resources, but the produce life cycle mainly studies the use of the product marketing strategy.
In this way, what is BCG matrix example?
To get stars, for example, a company must invest in product development. If you have a star as a company, the strategy for this product must be aimed at gaining as much market share as possible. An example of a product that can be classified as 'Star' in the BCG Matrix is the LED lamp from Philips.
Also, what does PLC stand for?
Public Limited Company
What is PLC and its stages?
The life cycle has four stages - introduction, growth, maturity and decline. Additionally, companies use PLC analysis (examining their product's life cycle) to create strategies to sustain their product's longevity or change it to meet with market demand or developing technologies.
What is the Boston matrix model?
The Boston Matrix is a model which helps businesses analyse their portfolio of businesses and brands. The Boston Matrix is a popular tool used in marketing and business strategy. It must decide how to allocate investment (e.g. in product development, promotion) across the portfolio.