The BCG matrix is a tool used in strategic management for portfolio analysis, categorizing a company's products into four categories based on their market growth rate and relative market share. These categories are: Stars (high growth, high share), Cash Cows (low growth, high share), Question Marks (high growth, low share), and Dogs (low growth, low share).

For example, a business could use the BCG matrix to analyze its product portfolio by considering the market growth rate and relative market share of each product. A high-growth, high-share product, such as a popular smartphone model, would be classified as a Star, while a low-growth, high-share product, such as a well-established brand of laundry detergent, would be a Cash Cow.