Mission Statement Example
HOW TO USE THE BCG MATRIX AND EXAMPLES
To apply the BCG Matrix you can think of it as showing a portfolio of products or services, so it tends to be more relevant to larger businesses with multiple services and markets. However, marketers in smaller businesses can use similar portfolio thinking to their products or services to boost leads and sales as we'll show at the end of this article. Considering each of these quadrants, here are some recommendations on actions for each: Dog products: The usual marketing advice here is to aim to remove any dogs from your product portfolio as they are a drain on resources. However, this can be an over-simplification since it's possible to generate ongoing revenue with little cost. For example, in the automotive sector, when a car line ends, there is still a need for spare parts. As SAAB ceased trading and producing new cars, a whole business emerged providing SAAB parts. Question mark products: As the name suggests, it’s not known if they will become a star or
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