Model 4P
If we consider the concept of “7P”, then three additional criteria are added to it:
People – people who influence the success of a business: consumers, including opinion leaders, VIP clients, loyal groups, sellers, company employees, manufacturers.
Process – the process of interaction between a company and a consumer.
Physical evidence – the physical environment, its main objectives.
In order to conveniently track botim database the advantages and disadvantages of each company, i.e. compare competitors, all the information received is presented in a table. Each parameter is assigned a value in accordance with the selected assessment scale (five or ten points). After entering all the data, a summary indicator is determined for each criterion and the appropriate conclusions are made.
"General Electric Business Screen Matrix"
Another name for this model is the "McKinsey Matrix". It proposes to analyze the strengths of competitors and compare them with the indicators of the external environment in which the company operates. With the help of such a comparison, it becomes possible to study the situation with competitors in terms of resource allocation and strategic directions.
The matrix is presented in the form of a table, which reflects the factors of business competitiveness and the attractiveness of a specific market segment. They are searched for using the expert assessment method, after which a screen matrix is built, and business units are selected for further investment and development. The ready-made form is used to determine the strategy for achieving a number of specific advantages over competitors.
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"BCG Matrix"
This method, developed by the Boston Consulting Company, can be used to determine the position of products or business units in the competitive environment. The horizontal axis of the matrix shows the market share value, and the vertical axis shows the market growth rate. With an increase in the former, the organization's position in the competitive struggle improves. In the case of an increase in the growth rate, there is an expansion of opportunities for business development.
The matrix is divided into four conditional squares:
"Stars" that are characterized by high values of indicators on the X and Y axes. These products need all kinds of support, they require large investments.
"Cash cows" - with high values on the X axis and low values on the Y axis. These products are the most profitable and do not require additional capital investment.
"Problem children" have low values on the X axis and high values on the Y axis. This type of product requires careful monitoring and should be moved to the "stars" square when possible.
"Dogs" are characterized by low indicators on the X and Y axes. This square contains unsuccessful products with low profits, and sometimes even loss-making ones.
Sales Analysis Using the BCG Matrix
Benchmarking method