What term describes products with low market share in a low growth market that may require a product extension strategy?

The term that describes products with low market share in a low growth market is "Dogs." Products categorized as Dogs typically struggle to gain traction due to their limited market share and unappealing growth potential. In business strategy contexts, such as the Boston Consulting Group (BCG) Matrix, Dogs are often considered candidates for a product extension strategy, which involves improving or revitalizing these products in hopes of increasing their market performance.

The rationale behind considering Dogs for extension strategies is that they may still hold some value or brand recognition, allowing a company an opportunity to find a niche market or reinvent their offerings. By investing in these products, a company can potentially turn them into more valuable assets or at least stem losses associated with a declining market situation.

Products known as Stars are in high-growth markets with high market share, Cash Cows have a strong market share in low-growth markets generating consistent revenue, and Question Marks are in high-growth markets but hold low market share with uncertain prospects. Each of these categories carries a distinct strategic implication that does not align with the specific characteristics of Dogs.