Topic > Marketing Strategy for Applied Cryogenics - 938

The unique properties of the product are the factors that ensure growth. PRODUCT MARKETING STRATEGY For the selection of the marketing strategy for our product we use the analytical tool developed by the founder of the concept of strategic management by an American Russian origin Igor Ansov. This tool is known to marketing specialists as the Ansoff matrix. According to this matrix, the new product development strategy is primarily suited to our innovative product, which is new to the New Zealand market. The new product development strategy is a broad growth strategy and suggests the company to enter new geographic markets or new target segments of consumers of existing products or services and to increase revenue and profit in the long term by attracting new audiences. It is the growth strategy with the highest potential. In case of successful application of this strategy, this matrix segment will move to «existing market and existing product» and the company will be able to apply market penetration