The Bayer Matrix is a strategic planning tool used by businesses to evaluate their product portfolio. It categorizes products based on two dimensions: market growth and market share. This helps companies identify which products to invest in, maintain, or divest, guiding resource allocation effectively. In the Bayer Matrix, products are typically classified into four quadrants: Stars, Question Marks, Cash Cows, and Dogs. Stars have high market share in a fast-growing market, while Cash Cows generate steady revenue in a mature market. Question Marks require investment to grow, and Dogs have low market share in a slow-growing market.