Question Marks
Stars
Stars in the Boston Matrix are products with high market share and high market growth. To maintain their success, businesses should continue investing in these products, monitor competitor activities, minimise competitor pressure, and ensure both market share and growth are sustained.
Cash Cows
Cash cows in the Boston Matrix are products with high market share but low market growth. They generate consistent cash flows and profits. Businesses should use this cash flow to invest in ‘Question Marks’ or ‘Stars’, allocate resources strategically, maintain market share, and maximise profits through economies of scale.
Dogs
Dogs in the Boston Matrix are products with low market share and low market growth. Businesses should reduce investments and resources, monitor the competitive landscape, explore cost reduction strategies, and consider selling remaining stock and discontinuing the product. However, dogs can still be beneficial as they bring in revenue and profits, retain loyal customers, serve as complementary products, and are integral to the brand’s history.