The Boston Matrix Market Analysis
1) Following further Market Research it is established the PLP LTD is
seen as a company that is not very adventurous and it has nothing set
to itself apart from its competitors. In order to change its image
with its customer base suggest how the company could move from its
present market to a new "niche market"
I would suggest that this company should go into a market "niche" as
their current product lines are not doing to well. They should go into
a specific market that no one dominates and bring out a product that
does just that. This would increase their profits no end, as the
consumers will want this product. As they involved in the promotion of
leisure products they to come up with a unique idea that will take the
market by storm. But I would also suggest keeping some of their old
lines, the more successful lines. This would lower the risk factor as
the new product might not do as well as they expected and they would
be ruined. They have to move into the "niche market" as the passage
says that there will be no profits left.
2) Explain why it may be less of a risk for PLP to carry on with its
present customers as well as forming a new "niche market" for the new
product and using a different brand name.
I think that the PLP should keep their present customers because it
will be less of a risk if they solely concentrate on the "niche
market" as it could be a complete and it would ruin them. So if they
keep there current customers as well as introducing there "market
niche" it will be a lot less low risk. Also if they totally change the
name of there new "market niche" they will attract new customers as
well as keeping their current customers.
3) What position of the matrix do you think PLP Ltd is, based on the
information given in a case study?
I think that PLP Ltd is branded as a "dog" in the Boston Matrix. This
is because they are about ready for the chop, which is why they are
going into a "market...