Compare and contrast the IE Matrix with the BCG Matrix. Please explain yourself in full and cite sources.
According to maxi-pedia.com (2010) the BCG matrix or also called the BCG model is a well-known portfolio management tool used in product life cycle theory; BCG matrix is often used to prioritize which products within the company product mix get more funding and attention. According to this site, the BCG model is based on classification of products (and implicitly also company business units) into four categories based on combinations of market growth and market share relative to the largest competitor.
According to maxi-pedia (2010) the question is put forth when should one utilize the BCG matrix model? According to this site, each product has its product life cycle, and each stage in product's life-cycle represents a different profile of risk and return; in general a company should maintain a balanced portfolio of products; having a balanced product portfolio includes both high-growth products as well as low-growth products. However, according to this site, the question is, how do we exactly find out what phase our product is in, and how do we classify what we sell? According to this site, we should also ask where each of our products fits into our product mix. Should we promote one product more than the other one; the BCG matrix can help with this.
According to maxi-pedia (2010) the BCG matrix reaches further behind product mix; knowing what ...
In this solution, the matrix methods are evaluated against each other in 862 words with 3 references.