Observe your product portfolio by downloading BCG Matrix which designed to help companies make effective marketing strategies. Download free Excel templates and learn the process by clicking here. You are able to make functional decisions regarding investment conveniently by utilizing these templates. It is fundamental to make practical use of the available assets, to ensure growth of profit for the long term. Marketing solutions, especially digital marketing requires more research before spending; therefore these templates provide insight information of the company regarding the products manufactured in the company or services provided by the business.
There are various accounting tool providing exact and complete source of information. Distracting your staff by providing them information which is not updated is common, if you are unaware of the product ranking in the market. Customers brisk changing in the choice due to availability of multiple choices in the market can outdated your product from the market as it requires effective digital marketing solution or more specifications and features, which must be known by owner.
BCG Matrix Template Excel Format
Appropriate spending of the assets in your business can be easily done by downloading BCG Matrix, which is specifically designed to give you knowledge regarding your products and process.
- Market growth: this sheet is based on two fundamental factors, which are affecting your business processes and profit earning capability the shows your products in relation to market growth and market share.
- Stars shows the highest relative market share and highest market growth rate. They include company product’s which are generating profit for the company, however it is not high. Before creating BCG matrix template excel make sure some checklist.
- Cash cows show relative high market share and low market growth rate. It shows the products which require resources in form of investment and they can produce good profit for the business.
- Dogs include the products of companies which are giving low profit and also not showing any progress in the future. They are showing relatively low market growth and market share, therefore, they require your attention instantly.
Products coming in the category of question marks require resources of the company to earn profit otherwise they can also become outdated in the market. This involves working on the products as well as ensuring healthy investment.
BCG Matrix Preparation Process
You are required to analyze products of the companies and observing their profit making capability before giving them a correct ranking in the BCG matrix template.
Star usually includes the products which are assets of your company as they are acquiring good fame in the market and earning good amounts in form of profit for your company. They do require resources to be spent on them, while cows are also able to give a lot of profit for the company, and does not require investments as well.
Importance Of Product Portfolio
Analyzing products and their current stage is helpful for the businesses as they are able to add them under the correct category in the chart and then taking marketing or investment decision for them. You are able to analyze which products can generate profit while products which are now only cost consuming and are not showing any growth rate in the market. Free BCG matrix template Excel is added here for you.