The variables you need are product sales figures, relative market share and segment market growth. As well as total market growth in the segment and average relative market share.
You need the matrix if you want to know whether your products are profitable compared to the competitive products of the same segment . You also want to know in which products in your portfolio you can invest or divest. The BCG Matrix is also suitable for analyzing services. After all, you only need the numbers. Making a BCG Matrix is not complicated. You often need an example to get started. The BCG matrix is a product portfolio for the organization. With the right variables, the BCG Matrix can be a good tool for investing in products or services. You can also consider which will yield nothing and then divest them from your portfolio.
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