What is a BCG Matrix Template
A BCG Matrix template is a pre-designed framework or layout used to create a visual representation of a company's product portfolio, based on the Boston Consulting Group Matrix. It helps businesses easily categorize and plot their products or business units in the four quadrants of the matrix: Stars, Cash Cows, Question Marks, and Dogs. Instead of creating a BCG matrix from scratch, you can use a ready-made BCG Matrix template to quickly fill in details. BCG Matrix template has Y axis and X axis. X-axis represents Relative Market Share (from low to high). Y-axis represents Market Growth Rate (from low to high). The BCG Matrix template allows you to enter specific products, services, or business units into the quadrants. You can modify the template based on the company’s specific metrics.
How to Use a BCG Matrix Template in Creately
- Once you select the BCG Matrix template that suits your needs., start by identifying the products, services, or business units you want to analyze. Here you can click on the boxes in the grid to add your products and type their names directly into the template. You can also use a mind map or sticky notes separately to write and group them first as needed.
- Assess the market growth rate for each product. Consider factors like industry trends and sales data. Use the growth axis (vertical) to determine where each product fits, labeling it as low or high growth.
- Determine your market share for each product compared to competitors. Place the products on the market share axis (horizontal) according to whether they have low or high market share. You can drag and drop the sticky notes or the text box with the products written on them to the relevant quadrant.
- Review where each product is located in the matrix:
- Stars: Invest for growth.
- Cash Cows: Maintain for steady profit.
- Question Marks: Decide if investment is needed.
- Dogs: Consider phasing out.
- Determine your market share by comparing sales data and competitor analysis. Move the product shapes along the horizontal axis to represent low or high market share. Resizing to adjust product shape sizes based on market share, if desired.
- Use color coding to differentiate the products. This visual distinction helps quickly identify product categories at a glance. For instance:
- Green for Stars
- Blue for Cash Cows
- Yellow for Question Marks
- Red for Dogs
- Based on the analysis, decide on actions for each product. Use sticky notes or text boxes to outline strategic decisions next to each product shape for easy reference. Invite team members to review the BCG Matrix. They can add comments, suggestions, or edits in real time.
You can easily edit this BCG Matrix template using Creately. You can also export it in multiple formats like JPEG, PNG and SVG and easily add it to Word documents, PowerPoint (PPT) presentations, Excel or any other documents. You can export it as a PDF for high-quality printouts as well.
