Two variables in strategic marketing decision.
- the market in which firm was going to operate.
-the product intended for sale.
In terms of market , companies have two options.
-remain in existing market.
-enter in new market.
-Selling existing product.
-enter into new market.
Existing new existing market penetration product development
market extension diversification
Above I made Ansoff matrix, according to this matrix marketer can sell his products in existing market or in totally new market. On the behalf of this matrix, we will discuss in detail, how Apple Inc. can rebuild and maintain its reputation. I will explain two ways in existing as well as new market for sale growth. Product development( sell new product in existing market)
Product development is selling new products in existing market. Apple has strong reputation in the market. If Apple launch any product related to communication, this will increase market share of Apple. Apple need to target new segment. Apple need to launch new Mobil phone in low price segment. It is also very important for Apple to come up with something new idea to compete with Samsung. Product development is very important for Apple now. Apple Iphone’s series will not work for more time. Samsung is coming with new technology. It will be hard for Apple, may be in the future to compete with Samsung. Diversification:( sell new products in new market)
Diversification is a corporate strategy to increase sales volume from new products and new markets. Diversification can be expanding into a new segment of an industry that the business is already in, or investing in a promising business outside of the scope of the existing business. It is very important for Apple to do diversification. Apple Inc. need to enter into new market like Samsung. Apple’s iPhone is become older concept now. Apple need to launch something different and unique to maintain their reputation. Apple launch its iPhone 5 in August 2012. Apple’s next move is now to launch any new product in this year. It should be unique and little new in the market. Q: Provide three advantages and three disadvantages of each in terms of the organisation priorities and feasibilities. Ans: Product development: It is not to easy to implement product development strategy into the market. This strategy is less risky as compared to other strategies. Following I will discuss I detail about the advantages and disadvantages of product development. Advantages:
1. New to the market/ fresh opportunities: Apple has good reputation in the market. This company...