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Essay / Applied cryogenics marketing strategy - 938
The unique properties of the product are the factors that ensure growth.PRODUCT MARKETING STRATEGYFor the selection of the marketing strategy of our product, we use an analytical tool developed by the founder of the concept of strategic management by an American of Russian origin Igor Ansov. This tool is known to marketers as the Ansoff Matrix. According to this matrix, the new product development strategy is particularly suitable for our innovative product, which is new to the New Zealand market. New product development strategy is an extensive growth strategy and suggests the company to enter new geographic markets or new target segments. consumers of existing products or services, and to increase long-term revenues and profits by attracting new audiences. This is the growth strategy with the greatest potential. In case of successful application of this strategy, this segment of the matrix will move into the “existing market and existing product” and the company will be able to apply market penetration.