Boston Consulting Group's Portfolio Analysis Classifies a Company's Products or Product

question 71

Essay

Boston Consulting Group's Portfolio Analysis classifies a company's products or product lines into a two-by-two matrix. What are the bases of classification and what are the products or product lines in each of the four quadrants called? What marketing strategies are usually considered for each of the four classifications?

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Definitions:

CRM

Customer Relationship Management, a technological approach to managing a company's interactions with current and potential customers, focusing on nurturing relationships to drive sales growth.

DSS

Stands for Decision Support System, a computer-based information system that supports business or organizational decision-making activities.

TPS

A Transaction Processing System is an information system designed to gather, store, alter, and recover an organization's transaction data.

PLM

Product Lifecycle Management, a systematic approach to managing the series of changes a product goes through, from its design and development to its ultimate disposal.