If all the products or services of your business brought the financial return stipulated in the planning of the company, it would be excellent, don’t you think?However, the market is a roller coaster. In a certain period, a product is performing well, while, at another time, it drops, that is, it brings irreparable damage.It is because of this volatility that you must make marketing decisions when analyzing how the life cycle of your products is .But how to do it?The way out is to bet on the famous BCG matrix Egypt Phone Number List technique .Through it, the information about your products will be clearer, both for you and for your team.Do you want to know how to apply this theory in your company? So, continue to follow our post to find out the main information.Shall we start?What is the BCG Matrix?The BCG matrix is ​​the technique used to analyze the performance of the products or services of a certain company in relation to their acceptance by the consumer .Despite being widely used today, this tool is old.It was created in 1970 , by Bruce Henderson , for the North American business consulting firm, Boston Consulting Group.Since then, it has allowed entrepreneurs to have a systemic vision of their products or services, which allows redoubling the attention for those who boost cash flow and ignoring others that demand a lot of effort, but do not bring the desired result.The way to get to the results of the BCG matrix is ​​quite simple, however, it is necessary to know each stage to find the desired numbers.

Discover how the BCG matrix worksThe BCG matrix is ​​divided into two blocks. The first refers to the market growth rate and the second is referred to as the product’s market share .Each block contains two divisions where the product groups are placed. Check out what they are below!Withdrawn from Foro Capital PyMEsMilky cowsEvery entrepreneur dreams of having a list full of this type of product, since they are the ones who supply the company’s cash register without the need to demand a lot of effort from the sales or marketing team.The success of this type of product is justified by its quality and by the reputation it has with the company’s clients.StarsLike dairy cows, these products are responsible for bringing a lot of profit to the sales team, however, an effort is required to achieve the desired result.

For that type of product, for example, it would be ideal to join the marketing team with the sales team to achieve the desired return.QuestionsThey are products of which we are not sure which way they will go.Although the marketing and sales team seek their success, it is not possible to know what their turnover will be, since they are newly launched products and so far they are only bets of the company.Here it is necessary to be calm and wait for the response of consumers in relation to the novelty that you have just created.DogsThese products are those that every entrepreneur wants distance from, since they do not generate many profits for the company.

In these types of cases, it is necessary to evaluate whether it is worth continuing with the investment.Here is a warning: if the recovery plan requires a lot of time and money, forget about that product and try to find another solution.BCG matrix analysis cannot be performed just once. Do you remember the beginning of this article when we said that the market is a roller coaster? Well the explanation is here.As many changes, positive and negative, occur in the sales area of ​​your company, it is essential that the tool be applied constantly. This is because nothing prevents a dairy cow from becoming a dog in the future .