Developed by the Boston Consulting Group in the early 1970s, the Boston Consulting Group (BCG) Growth-Share Matrix is a tool used to assist firms in determining how to allocate their resources to various product lines. Using market growth and market share, the BCG Matrix classifies products as:
- question marks
- cash cows
These classifications are important to businesses as they have implications on how a firm supports its products. In this video you'll learn how businesses utilize the BCG Matrix in their product strategy.