P1 P2 Unit 3 Introduction to Marketing - 1409 Words

According to, the Ansoff Product-Market Growth Matrix is an instrument in marketing that was developed by Igor Ansoff. In the Ansoff matrix, it allows the marketers to look at different ways to grow the business through existing products and markets and new products and markets. Moreover, the matrix is composed of four various strategies: - Market Penetration- market penetration is composed of existing products and markets, it occurs when an organisation enters an existing market with current products and services. - Product Development- product development is composed of existing markets and new products, it occurs when an organisation with a current or existing market undertakes a strategy of creating a new product which provides†¦show more content†¦This shows that a product development strategy for entry into a new market is successful; it may lead the company into introducing more innovative products into the same market or parallel markets, such as in the introduction of iPhone into the smart phone market, and most recently the iPad into the slate PC market. Apple’s branding strategy focuses mainly on emotions. It centers on a person’s lifestyle, imagination, his passion, hopes, dreams and aspiration, and lastly empowering the people through technology. The Apple brand personality emphasizes on making people’s lives easier and it is a company with a genuine connection with its customers. Apple try’s to brand the business around customers; every aspect of the customer experience is relevant. Every contact with the customer must be a reinforcement of the brand’s values.The brand is currently expanding by opening retail stores in high-end shopping districts in major cities around the world. The brand provides expert staff to selected stores; it has formed alliances with other companies to distribute its products (like with HP for example, who pre-loaded iTunes into its PC’s and laptops). The brand has also increased its accessibility through the expansion of its online stores.Through its retail stor es, Apple is able to offer customers a directShow MoreRelatedEssay on Marketing and Market Research946 Words   |  4 PagesFaculty of Academic Studies School of Business and Professional BTEC Level 3 in Business – 90 Credit Diploma (QCF) Unit 3 Introduction to Marketing Assignment 1 Scenario You work for a professional organisation for marketers. One of the activities that the organisation undertakes is to evaluate the marketing activities of different companies and produce a list of ‘A’-classed marketers. You are asked to carry out research into two possible contenders for inclusion on the list. 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