Apple Ansoff Matrix is a marketing planning model that helps the multinational technology company to determine its product and market strategy. Ansoff Matrix illustrates four different strategy options available for businesses. These are market penetration, product development, market development and diversification. Apple Ansoff Growth Matrix Within the scope of Ansoff Matrix, Apple uses all four growth strategies in an integrated manner: 1. Market penetration. Market penetration refers to selling existing products to existing markets. Existing market for Apple consists of its global operations divided into five operating segments: Americas, Europe, Greater China, Japan and Rest of Asian Pacific. The tech giant operates more than 518 retail stores in 25 countries and regions.[1] Apple engages in market penetration strategy via effective application of marketing strategy. Apple’s ecosystem of products and services also plays an instrumental role in pursuing market penetration strategy with high level of efficiency. 2. Product development. This involves developing new products to sell to existing markets. New product development in a regular manner is one of the core growth strategies pursued by Apple. Each new product or service by Apple nicely fits within its ecosystem and serves to further strengthen the company ecosystem. Moreover, the multinational technology company regularly introduces updated versions of its existing products and services and introduces totally new products. The company’s investments on research and development for new products has increased from USD 0,78 billion in 2007 to USD 25,3 billion in 2023. 3. Market development. Market development strategy is associated with finding new markets for existing products. This strategy has been adapted as the main growth strategy by Apple. Specifically, the world’s largest IT company by revenue focuses of emerging economies in Asia as attractive markets for long-term perspective. The multinational technology company appeals to local culture and sentiment when developing marketing strategies…Apple Ansoff Matrix
Sunday, July 2, 2023
Research Methodology
Apple Ansoff Matrix is a marketing planning model that helps the multinational technology company to determine its product and market strategy. Ansoff Matrix illustrates four different strategy options available for businesses. These are market penetration, product development, market development and diversification. Apple Ansoff Growth Matrix Within the scope of Ansoff Matrix, Apple uses all four growth strategies in an integrated manner: 1. Market penetration. Market penetration refers to selling existing products to existing markets. Existing market for Apple consists of its global operations divided into five operating segments: Americas, Europe, Greater China, Japan and Rest of Asian Pacific. The tech giant operates more than 518 retail stores in 25 countries and regions.[1] Apple engages in market penetration strategy via effective application of marketing strategy. Apple’s ecosystem of products and services also plays an instrumental role in pursuing market penetration strategy with high level of efficiency. 2. Product development. This involves developing new products to sell to existing markets. New product development in a regular manner is one of the core growth strategies pursued by Apple. Each new product or service by Apple nicely fits within its ecosystem and serves to further strengthen the company ecosystem. Moreover, the multinational technology company regularly introduces updated versions of its existing products and services and introduces totally new products. The company’s investments on research and development for new products has increased from USD 0,78 billion in 2007 to USD 25,3 billion in 2023. 3. Market development. Market development strategy is associated with finding new markets for existing products. This strategy has been adapted as the main growth strategy by Apple. Specifically, the world’s largest IT company by revenue focuses of emerging economies in Asia as attractive markets for long-term perspective. The multinational technology company appeals to local culture and sentiment when developing marketing strategies…
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