One of the very useful resources for marketing planning, as you learned in Lesson 2: Marketing Planning and Strategy, is the BCG Matrix. It is designed to give a business a clear idea as to where its products are with respect to the industry they are in and the competition. This exercise will help you practice what you learned about the BCG Matrix. For information about what a BCG Matrix consists of, refer to Chapter 2 of your textbook.
To complete this assignment, follow these steps.
First, choose a specific product from a known brand (you can choose the very same product and brand you are considering for the course project).
Then do some research about the product and the brand. Specifically, identify the following:
- Product’s market share
- Competitors who compete with the product in the same market
- Characteristics of the industry the product is in
- Future of the product
- Future of the industry
Finally, using the information you have gleaned, determine where in the BCG Matrix your chosen product stands and explain why in a written report.