THE PRODUCT LIFE CYCLE AND THE BOSTON CONSULTING GROUP’S GROWTH- SHARE MATRIX IN MARKETING SIMULATIONS

Stefan-Alexandru Catana, Sorin-George Toma and Catalin Gradinaru
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Stefan-Alexandru Catana: FACULTY OF BUSINESS AND ADMINISTRATION, UNIVERSITY OF BUCHAREST, BUCHAREST, ROMANIA
Sorin-George Toma: FACULTY OF BUSINESS AND ADMINISTRATION, UNIVERSITY OF BUCHAREST, BUCHAREST, ROMANIA
Catalin Gradinaru: FACULTY OF BUSINESS AND ADMINISTRATION, UNIVERSITY OF BUCHAREST, BUCHAREST, ROMANIA

Annals - Economy Series, 2022, vol. 4, 319-324

Abstract: The product life cycle and the Boston Consulting Group’s growth-share matrix are important tools for marketing specialists, as it offers guidance for developing marketing strategies. In marketing simulations, the use of the product life cycle and its extension into Boston Consulting Group’s matrix is relevant to creating a bridge between theory and practice and determining the best strategies and tactics for products. The aims of this paper are to reveal the theoretical concepts regarding the product life cycle and the Boston Consulting Group’s growth-share matrix and to emphasize their relevance in marketing simulations. The research methodology was based on a qualitative research method, doing a comprehensive literature review. The paper provides the deepening of the theoretical framework to expand the knowledge in the product life cycle approach, the Boston Consulting Group’s matrix, and the marketing simulations field. It also displays that the use of these tools in marketing simulations leads to the development of strategic thinking. The paper eases a better understanding of the concept of the product life cycle and its particularities.

Keywords: the product life cycle; the Boston Consulting Group’s growth-share matrix; marketing; simulations (search for similar items in EconPapers)
Date: 2022
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