The Boston Consulting Matrix was my first exposure into the power of 2×2 matrices. Some genius found a way to build a map of where all your products stand vi-a-vis each other based on the twin axes of market share and growth rate.
This generates 4 possible quadrants :
a) Star – High Growth, High Market Share
These are the stars of the show who have a dominant position in a high growth industry. If your product is placed here, this is an enviable position to be. While my ERM class is growing fairly quickly in 2019, my market share has some room for improvement. At this stage, the only way I can resolve this issue is to clone myself.
b) Cash Cow – Low Growth, High Market Share
These are the bread and butter product lines that you need to have in your company. While the growth is no longer there, like dividend