A portfolio of products can be analysed using the Boston growth matrix. The four categories are described above.By looking at the table above I can say that my service, renting out conference rooms at Bournemouth international centre

portfolio of products. It decides how to allocate investment (e.g. in product development, promotion) across the portfolio.A portfolio of products can be analysed using the Boston growth matrix. The four categories are described above.By looking at the table above I can say that my service, renting out conference rooms at Bournemouth international centre is in the cash cows section because:It has a large market share in a mature, slow growing industry.Profits and cash generations are relatively high.Also because of low growth, investments should be low.Because there are low investments therefore this generates cash that can be used to invest in diversification. E.g. offering speed datingAlso cash cows provide the cash required to cover the administration costs, to fund research and development, to pay of the debts of the company.Therefore by looking at my decision for the Boston growth matrix, I can see that there is a link between it and the product life cycle, because they both show me that my service is in the Maturity stage.The product / market opportunity matrix                                                                           Product                                                                            Old                      NewMARKETOldMarket penetrationProduct developmentNewMarket developmentDiversificationBy looking at the product/market grid ansoff I can see that the market my product is in is a new market so therefore it’s a market development and also my product/ service is in product development.Market developmentThis is a strategy of expansion based on entering new markets. This is only ideal when little modification is required and room for growth in the original market is restricted.I have come up with a strategy for this part that is which is:As I have found out that this service is wanted by customers, we can expand our customer base through mail order sales, and eventually producing online bookings, which will be easier for customers because they will have the information and they will know what days/ nights are free which they can book without having to talk to one of our members of staff. We can also offer children birthday parties, with free magicians and/or free face painting, this will be a way of changing the image of our service from family parties into children parties and etc. DiversificationThis is a strategy where a company expands on the basis of new products and new markets. The product may be new to the industry or just new to the company. This strategy is the most costly and risky challenge.I have come up with a strategy for my diversification:Renting out these conference rooms to companies, which can teach aerobics or dancing to the public.One of the conference rooms could be turned into a restaurant that would offer a wide range of foods.Renting out these conference rooms to schools for their drama lessons or any other lessons that would be relevant.