BCG matrix

Developed by the Boston Consulting Group (BCG), this visual marketing management tool is used to analyse a firm’s product portfolio.

Brand awareness

The degree of customer knowledge and recognition of a particular brand in order to gain more customers.

Brand development

Part of a firm’s marketing strategy in communicating the value of a brand and what the brand stands for.

Brand loyalty

The degree of customer devotion to a particular brand.

Brand value

The expected earning potential of a brand, i.e. the likely future earning potential (value) of a particular brand.

Cash cows

Products in the BCG Matrix with high market share in a low growth (mature) market. They are the largest cash earners for a business.

Dogs

Products in the BCG Matrix that operate in low growth markets yet have low market share, so are at the end of their product life cycle.

Extension strategies

Marketing approaches used to prolong or lengthen a product’s life cycle, e.g. price reductions or new promotional strategies.

Packaging

The art of presenting a product in an advantageous way.

Product life cycle (PLC)

Marketing theory showing the different stages that most products go through from their research and development (R&D) stage to their final removal from the market.

Question mark

Also referred to as problem child, this is a product in the BCG Matrix that have low market share in a high growth market.

Stars

Products in the BCG Matrix with high or rising market share in a high growth market.