Further Ways of managing products: Based on the strategic marketing model product: Portfolio Matrix

Most organizations do not rely on a single product. All products have a life-cycle and new ones are being developed before the old ones become obsolete or unfashionable. Leisure organizations will also need to appeal to a mix of different market segments, if each of which requires a different 'bundle of benefits'. Offering a range of products is one of the keys which drive to the success. One of the best known tools for managing a product range is the product portfolio matrix, devised by the Boston Consulting Group. This requires managers to analyze each product according to its market share and its growth as shown in the matrix below. The study is based on this model and suggests four hypo categories one for each component of the model. The point in the paper is that according to the new models product: - can be better placed in the market for the enterprises - can have a better route through the market - the enterprise can make a better and sooner diagnosis for their direction - better financial policy - better dialing with the product