Choose the next size pot in which to transplant the dracaena. If it doesn't contain drainage holes in the bottom, create some.
Fill the planter half way with equal parts of a well-drained potting soil and sand or vermiculite. Dracaena will rot if there is too much moisture at its roots.
Lay the dracaena on its side and slide it from the pot. If it's stuck, use your knuckles to rap sharply on the side of the pot in different areas to knock loose any roots that may be connected to the inside wall of the pot.
Gently loosen the rootball with your fingers. Try not to loose too much of the soil when doing so.
Place the dracaena marginata Magenta's roots in the new pot and add or remove soil so that it is sitting at the same depth at which it has been growing. Pour soil over the rootball pushing it down with your hands occasionally to remove air pockets trapped near the roots.
Water the dracaena until water drains from the bottom of the pot. After it drains, water it again to make sure the soil is completely moist.