How to Use the BCG Matrix
Part 1: What is BCG Matrix?
Matrix diagrams are commonly used by project managers handling projects with a multitude of processes and people that require managing. It helps with understanding the relationships between each element or data set.
Matrix diagrams can compare two or more pieces of data, or data within a single group. They can be used to compare data, people, equipment, and materials, amongst other thing.
A matrix diagram is best used for identifying the causes of problems, comparing the solutions to them, and identifying areas for improvement in a project or process.
Part 2: How to Draw a BCG Matrix Effortlessly?
How to create a BCG Matrix easily? Using EdrawMax to create your own BCG Matrix.
Step 1: Open EdrawMax desktop software or EdrawMax web-based application.
Step 2: Navigate to [New]>[Marketing]>[Matrix Diagram]
Step 3: Select one BCG Matrix template to edit on it or click the [+] sign to start from scratch. Also, you can use massive BCG Matrix symbols and elements from libraries in left menu to customize your BCG Matrix.
Step 4: Once finished your creation, you can export the file in multiple formats, including Graphics, PDF, editable MS Office file, SVG and Visio vsdx file.
Step 5: Besides, you can share your Ansoff Matrix with others via social media and web page. Or publish your BCG Matrix in EdrawMax template gallery to show your work with others.
Part 3: BCG Matrix Examples
Example1: How Does The BCG Matrix Work Diagram
To understand this, you first need to understand what the BCG matrix actually shows. The two axes have been introduced before. On the vertical axis, the market growth rate provides a measure of the market’s attractiveness. On the horizontalaxis, relative market share serves as a measure of the company’s strength in the market.
Example2: The Boston Consulting Group (BCG) Growth Matrix
The second example shows the present market share and the future growth of that market. Growth is seen as the best measure of market attractiveness. Market share is a good indicator of competitive strength.
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Part 4: Conclusion
According to this article, there are mainly four parts to illustrate what is BCG Matrix, to tell you how to draw a BCG Matrix, to show you some BCG Matrix examples, and to tell you how to use a BCG Matrix. Generally speaking, the BCG Matrix is very useful because it can help project managers understand the relationships between each element or data set.
EdrawMax is the easiest all-in-one diagramming tool, you can create BCG Matrix and any other type diagrams with ease! With substantial BCG Matrix symbols and cliparts, making BCG Matrix could be as simple as possible. Also, it supports to export your work in multiple formats and share your work with others. Get started to create your BCG Matrix now!