Boston Consulting Group Matrix

The Boston Consulting Group (BCG) Matrix is a strategic tool used by businesses to evaluate their product portfolio. It classifies products into four categories based on market growth and market share: "Stars" (high growth, high share), "Cash Cows" (low growth, high share), "Question Marks" (high growth, low share), and "Dogs" (low growth, low share). This framework helps companies decide where to allocate resources, which products to invest in, and which to phase out, ultimately aiming for more effective management of their offerings and maximizing profitability.