BCG matrix (also called Growth-Share Matrix) is a portfolio planning model used to analyse the products in the

business’s portfolio according to their growth and relative market share.

The model is based on the observation that a company’s business units can be classified into four categories:

• Cash Cows
• Stars
• Question Marks
• Dogs

It is based on the combination of market growth and market share relative to the next best competitor.

Ansoff Matrix: The Ansoff Matrix, often called the Product/Market Expansion Grid, is a two-by-two framework
used by management teams and the analyst community to help plan and evaluate growth initiatives. In particular,
the tool helps stakeholders conceptualize the level of risk associated with different growth strategies.

Figure 1: Ansoff Matrix

What is STP Marketing?

STP marketing is actually really easy to define and explain – STP stands for “segmentation, targeting, and positioning”. In simpler
terms, the STP process combines three separate marketing approaches into one model. In practical application, STP marketing
means creating market segmentation, targeting the selected segments, and adjusting product or service positions accordingly.
1. PRODUCT
It goes without saying that the service or product you’re selling should be at the centre of every element of the marketing mix.
2. PRICE
The strategy behind the pricing of your product needs to be based on what your customers are prepared to pay, costs such as retail
mark-up and manufacturing, as well as other considerations.
3. PROMOTION
Successful marketing strategies include all the promotional activities across the marketing mix, including advertising, direct
marketing, and in-store promotional activities.
4. PLACE
Where and how your product is displayed and sold should be directly informed by your customers.
5. PEOPLE
Excellent customer service not only converts to sales, but can increase your customer base by referrals. Acquiring these referrals
by people who love your brand can also be a great example of how your marketing efforts can support your sales process.
6. PROCESS
The process of delivering your product to the consumer should be designed for maximum efficiency and reliability, but may also
include features that are in line with your brand, such as being environmentally or sustainably focused.
7. PHYSICAL EVIDENCE
Physical evidence incorporates aspects that proves your brand exists and that a purchase took place.

Consumer behavior: Consumer behavior is the study of how consumers make decisions about what they need, want, and desire
and how do they buy, use, and dispose of goods.

Importance Of Consumer Behavior: Consumer behavior is very important to understand what influences the buying decisions of
the consumers and why does it so.

By understanding how consumers decide on a product it is possible for marketers to fill in the product-market gap and identify
which product is needed and which products are obsolete in the market. It also helps marketers decide how to present their
products such that they have maximum impact on consumers.