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Brand Growth Strategy Matrix Of Apple

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As Apple Inc is a global company with strong investors and ever receptive market, there are many ways for the company to produce their items and sell their brand. Growth strategies aim to increase market sales. A high market growth rate is essential as assessing it directs business and marketing efforts. Companies experiencing low sales growth relative to their competitors must determine the potential causes of their performance issues. Besides, it is an indicator on market growth, signalling the sustainability of your business in the long term. While a high growth rate indicates low saturation and high demand, a negative rate could suggest that consumers are losing interest in your product or service. Financial institutions, will utilize this …show more content…

The brand growth strategy matrix is a visual representation of the options that a company has in order to increase its market growth. The matrix is broken up into four different quadrants and it takes into consideration the market, the product and whether each of those two is new or existing. The four quadrants are market development, market penetration, product development and diversification. Market development means that there is an effort to sell the existing products in a new market. Product development means that there is an innovation of new products in an existing market. Market penetration means that there is an effort to boost sales of the existing product in an existing market to achieve higher market shares. Lastly, diversification means that the company is developing a completely new product and diversifying it in a new market. Those are the four basic quadrants represented in the brand growth strategy …show more content…

This intensive strategy applies mainly in developing markets. Also, Apple implements market development strategy through novel products. For example, the company innovates and creates new goods like the Apple Watch, which is a new product line. Due to that, the company is now developing its research and development in the smartwatch market. This intensive growth strategy agrees with Apple’s generic strategy of broad differentiation by examine the company’s potential and abilities. Generic strategies such as this requires that unique products should be offered to different market segments, which the company reaches through market

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