The 2x2 Matrix is something that consultancy company BCG is apparently known for. In my experience with them, they certainly did trot out a 2x2 matrix, but it wasn’t exactly like this. It breaks up into 4 quadrants along to dimensions: growth and share.
Definitions
Share refers to the amount of the overall market your product holds. Growth refers to the amount that the overall market is expanding.
quadrantChart
title Growth & Share
x-axis Low Growth --> High Growth
y-axis Low Share --> High Share
quadrant-1 "⭐️ Stars"
quadrant-2 "🐮 Cash Cow"
quadrant-3 "🐶 Pets"
quadrant-4 "❓ Question Marks"
The idea is that you plot out the different value-generating endeavors of your business across these two axes, and you can determine where to focus (or not) your resources.
Helpfully Mermaid now supports Quadrant Charts!