Product Marketing Planning

Boston Consulting Group Matrix 

The Basic design of BCG Matrix allows managers to adapt it for their own needs.
The BCG Matix is  4 cell matrix. The horizontal axis measures market share from low to high. The vertical axis measures market grow rate, again from low to high. it is for each organisation to deccide what is low and high for them, and their type of product offers.

Quetion Marks
It will be obvious that products are better introduced to a growing market. that new product offers have no maret share.Therefore a new product introduction will be at this point.

Stars
In the star area the product offer has a high market share in a growing market. over time the volume sales must increase, since the overall market is increasing and the product is holding ( or increasing ) market share.

Cows
Product offers in the cow area established. they have a base of loyal users. their repeat sales pattern can be relied upon. they need monitoring and careful management. they need improvement, and their image sometimes needs to be updated.

Dogs
The dog quadrant holds product offers that have a low in falling market. they can often generate good profits for a time - often with little or no support. eventually there has to be action, however.

The 3As

Awareness : the need to secure attention and begin to build interest.
Attitude     : all the stages of building a positive attitude to the product offer and a desire to buy it.
Action       : the actual purchase, and use.

Above, Below, and Through the line

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Promotional objectives are set in terms of desired behavioural change. we can decide what the promotional mix is best for this objetive.
In these days promotional mix included only three tools - PR, Advertising, and Selling.
Budgets were then prepared in two sections - divided by a line. Above the line was the media cost, from which agencies took a commision. Below the line were the fees for creating the sales promotion, and the cost of the sales promotion itself. ( the special offers, the in-store promotional material, and so on. )
The terms therefore mean :
 - Above the line : the spend in media on which a commission is paid.
 - Below the line : the spend on which a fee paid.
 - Through the line : A campaign that uses both above the line media and below the line promotion.

Monitoring and evaluation

there is always, of course, need to monitor and evaluate results against objectives. In promotion objectives are usually set against the 3As because these 3 stages are accurate enough for general use. More detailed analaysis is possible, but the value of more detailed information must be balanced against is value. Most marketers are happy to work with information on awareness levels, attitude state, and action achieved.

Agencies and consultancies

Marketer mostly use :
- Advertising agencies, which draw commision from the media
  Type : Full service, A la Carte, Media independent
- Consultancies, which are paid a fee
  type : Public Relation, Marketing, Management






sources : The official LCCI Examinations board guide, all images from google