The BCG Matrix, also known as the Boston Matrix, is a strategic tool used for analyzing a company's portfolio of business units or products. Created by the Boston Consulting Group in the 1970s, this matrix helps companies identify which of their business units generate cash and which utilize it, aiding in the development of overall business strategy.
A 'Cash Cow' is a term used in the Boston Matrix to describe a business unit or product that generates a steady, reliable cash flow with lower investment, often used to fund other ventures or pay down debt.
A Product Manager is responsible for the planning, development, and overall strategic execution of a product throughout its lifecycle, ensuring that it meets market needs and aligns with the company's business objectives.
Research and Development (R&D) encompasses the scientific, technological, and marketing efforts involved in creating and bringing new products or services to market.
Skimming can refer to either an illegal practice of failing to account for some sales or a marketing strategy involving high initial pricing for new products.
