Ansoff'S Product Market Matrix Bluetooth Tracking Accessory

It is one of the riskiest growth strategies as both products and markets are new and unfamiliar.

By: M Rahman Tags: Business Environment Strategy Ansoff Matrix in Apple Inc.

This article explores the application of Ansoff Matrix in Apple Inc.

It examines how market penetration, market development, product development, and diversification strategies have been implemented by Apple Inc.

Ansoff Matrix was introduced in 1957 by Igor Ansoff, a Russian American mathematician.

Market penetration refers to selling existing productsservices into existing markets (BPP Learning Media, 2010).

It is a less risky strategy and the primary aim of pursing this is to increase the market share.

Like many other organisations around the world, Apple uses market penetration strategy intensively.

For instance, the sale of more and more iPhones in the existing markets demonstrates the application of this strategy by Apple.

The company implements this strategy by making iPhones available for purchase in multiple platforms e.g.

Apples stores, Apple.com, and telecommunications companies such as 3, O2, Vodafone, EE, and BT.

It also uses promotions through media outlets, its own website, and others to penetrate further into the markets.

Market development refers to selling existing productsservices to new markets or regions.

Since the inception, Apple has been continually developing its presence globally.

It is now a global brand and had long moved from home country (the USA) to many other countries in the world.

Apple did not confine itself to the key markets such as the United States, Europe, and China only, rather moved on to develop larger footprint in emerging markets such as India and Indonesia.

This strategy is very important for Apple as the demand for products in the existing markets may stagnate at one point.

Developing new products and selling them to the existing markets are called product development.

Certainly, Apple has been brilliant in designing and developing new products.

No wonder, why product development is the forefront of its intensive growth strategies.

Apple started its journey with Apple I, a hand-built computer.

It then continued to develop new products and services such as iPhone, iPad, iPod, Apple Watch, Apple TV, HomePod, iOS, macOS, iCloud, and many others (Apple Inc., 2021).

And importantly, this development is certainly is on-going.

This list above shows that Apple has been persistent in developing new products to address the demands of customers and to keep pace with time.

Ansoff'S Product Market Matrix Bluetooth Tracking Accessory

In 2020, it launched the iPhone 12 line-up, three new iPads, and two new Apple Watches and there were reports that the company might launch a new Apple TV and a Bluetooth tracking accessory (Eadicicco, 2020).

Diversification refers to selling new products to new markets.