Product Life Cycle, Boston Matrix and Promotion at BIC

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Overcoming barriers to change

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What is the primary focus of market-focused companies?

• Reducing production costs

• Increasing employee satisfaction

• Developing new products based on market research

• Expanding globally

Which product category in the Boston matrix requires large amounts of investment and promotional support?

• Cash cows

• Dogs

• Stars

• Problem children

What is the main characteristic of 'Cash cows' in the Boston matrix?

• High market share in rapidly expanding markets

• Newly-launched products

• High market share in markets that are no longer rapidly expanding

• Low market share in declining markets

What is the purpose of rebranding BIC's Classic one-piece shaver as BIC 1?

• To target a new demographic

• To enhance the brand’s simplicity

• To increase the price

• To reduce production costs

Which BIC product was taken out of production due to not warranting further development?

• Comfort 3 razor

• Tough Beard shaver

• Classic Shaver

• Cristal Ball Pen

What is the main goal during the growth period of a product's life cycle?

• To reduce production costs

• To focus on loyal customers

• To increase market share

• To phase out the product

Which promotional strategy did BIC use for the launch of the Comfort 3 razor?

• Social media campaigns

• In-store promotions

• Outdoor media and national press advertising

• Email marketing

What is the main feature of 'Stars' in the Boston matrix?

• They provide high cash returns

• They require no promotional support

• They have low market share

• They are in the decline stage

What is the significance of the Boston matrix for multi-product businesses?

• It helps in reducing production costs

• It identifies the contribution of products to overall business growth

• It focuses on employee satisfaction

• It determines the best pricing strategy