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|Dashboard, Excel, Matrix|
The BCG Matrix Template is a method of examining a portfolio of products by relative market share and relative market growth.
This results in the portfolio being broken down into stars, cash cows, dogs, and question marks.
Bcg Matrix Key Features
– Boston Consulting Group Matrix is simple to implement and easy to understand.
– Helpful for managers to evaluate balance in the firm’s current portfolio of Stars, Cash Cows, Question Marks, and Dogs
– The BCG Matrix Template indicates that the profit of the company is directly related to its market share. Therefore, a company can increase market share if it seems profitable.
– It has only four categories that make it in a simple form to operate efficiently.
Bcg Matrix available visualizations
Stars | These are businesses with high market share and growth rates. These products are market leaders and considerable attention should be devoted to them to ensure they maintain their lead.
Cash Cows | These are businesses with high market shares but which are not expected to grow significantly. They are able to generate large profits that can be used by the organization to improve other sections of the business. With cash cows, there is less competitive pressure due to the low growth rate of the market. The proceeds from these products may be used to support star products.
Dogs | These represent the products of a business with a low growth rate and low market share. The best marketing advice for any business is to eliminate dogs from their product portfolio since they drain resources and may result in losses. Some of these businesses can, however, generate partial revenue with little cost.
Question Marks | These represent businesses that have only a small market share of a fast growing market, making the future performance of the business uncertain. A question mark that is capable of seizing growing amounts of the market share is likely to be profitable. On the contrary, a question mark that is unable to maintain market growth will generate low profit. The best marketing advice for organizations is to invest wisely in question marks and define a plan for ensuring that the market share can be increased.