There are different types of matrix and graphs that are used to get the best results in the field of business and project management. Which BCG matrix Templates is also the best one used in making planning and your business strategies. And as it gives a product portfolio you can manage your marketing and production strategy according to the result.
Thank you for reading this post, don't forget to subscribe!The basic purpose of this chart is to re-set the priority of fields on which you should do investment. This graphical chart based on scatter means it is analytics based on mathematical measurements of goods and their comparative market growth rate and shares. This product portfolio can help us to classify the products into cash cows, dogs, stars, and question marks. Here I will describe how this matrix template work.
How BCG Matrix Template work For Portfolio Management
There are 4 sections in this template on two comparative lines. The horizontal line indicates product market shares and the vertical line indicates the market growth rate. And one section is a cash cow, the second is dogs, the third is the star and the fourth one is a question mark.
Cash cows: if your product exists in this section that means it has a big amount of market shares that are good to run the business and move it forward but it has low market growth.
Dogs: if your product exists in this section then it is mean it has a high market growth rate that is good for the expansion of your business but if it has low market share rate people and inverters have small confidence in your product.
Star: star is the best and if your product exists in this section then you’re lucky because your product has a high market share rate and market growth rate that will give your more benefit. A high market share rate means that your product or business getting continuous investment through shares and high market growth means that your product or business is going successfully.
Question mark: question mark means that your product growth rate is continuously increasing or your business expansion is going to bigger very fast and because of the minimum market share rate it fails to produce a profit. So that’s why it will ask for more investment now that will create a problem for you to arrange big amount in a short time. But one this is good about this section it has a high tendency to get a large number of market shares and after that, it can convert into a star.
These are the features of BCG matrix templates today every company and project manager used this tool for their product or services to view the progress and its current situation. Because it helps you make your planning for future or if there is any problem you can make a solution for it. It also helps us to evaluate the product life cycle.
