Market Share Strategy

Since 1977, Apple Computers, Inc. is a leader in the computer and technology industry overview of market share strategy. From Apple II to the iPhone, Apple is a company known for innovation, vision and change in this field. The home business first launched in Menlo Park, California has transformed into a multi-billion dollar internationally influential company (Encyclopedia Britannica 2008). Most of today's computer hardware and software advances are being developed by Apple.

The basis of the market share strategy is to occupy the majority of the market. The success of this strategy depends on market penetration and customers must recognize that your products are unique. Do you want to define the target market before implementing this strategy? How are customers looking at products related to their competitors? This information will help you find the right customers and establish communication links with existing and potential customers. Product lifecycle strategies are driven by innovation and can be applied to brands or product categories. It will last only a few months or even centuries. Product life can be divided into four phases: introduction, growth, maturity, decline. During the introduction phase, advertising costs are usually high, letting people understand company products.

Market penetration is the growth strategy of existing products in existing markets. The company is trying to expand its market share by using new marketing strategies to increase the sales of existing products in existing markets. Market exploitation is a growth strategy to open up new markets for existing products. The main goal is to find a new domestic market or international market of an existing product company. Product development is the growth strategy of new products in existing markets. The company has to launch them in the current market in order to develop new products and gain market share. Diversification is a new product growth strategy for new markets. To expand its presence in different markets, the company needs to launch new products for new markets. This is one of the most important growth strategies, as companies need to investigate new customer preferences and design their products to gain market share in new markets.

As shown in the figure above, the market penetration strategy aims to achieve growth through existing products in the current market segment with the aim of expanding market share. The market development strategy aims to achieve growth by narrowing existing products to new market segments. Product development strategy Developing new products for existing markets The diversification strategy helps companies diversify new business by developing new products in new markets. As more and more new retailers enter the market, NEXT has achieved tremendous success by maintaining its market share and has evolved into new products such as catalogs and online shopping (Verdict, 2009). NEXT was always an innovative retailer as it was the first retailer to start online shopping in 1999 (nextplc, 2009). Since then, we have launched many new products, and Next Directory has been a huge success.