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Boston Consulting Group created a growth-share matrix known as the BCG Matrix or Boston Matrix, which is used for the analysis and evaluation of the product portfolio of an organisation in the field of marketing and sales planning. It is given in Boston Consulting Group (BCG) matrix Homework Help that Boston consulting group matrix considers two dimensions which are market share and market growth. It is dedicated to the evaluation of goods and services of the business in a two-dimensional graph. It is highlighted in Boston Consulting Group (BCG) matrix Homework Help that both market share and growth rate are essential for the analysis as these two factors vary in time. Boston Consulting Group (BCG) matrix Homework Help discusses each product according to the classification. The classification scheme considers cash cows, stars, question marks, and dogs.
Benefits of Boston Consulting Group Matrix
A few advantages of BCG matrix are discussed below in Boston Consulting Group (BCG) matrix Homework Help
• It helps the managers to evaluate the balance between company’s existing portfolio of cash cows, question marks, stars, and dogs.
• Boston consulting group matrix is simple and easy to interpret.
• The company can use its previous analysis records while manufacturing and sale of new products at a reasonable price that would get them early market share leadership. Other advantages of Boston Consulting Group can be studied inBoston Consulting Group (BCG) matrix Homework Help.
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