Question
Digital Branding and Retailing
This is for Digital Branding and Retailing
Present a growth strategy for the brand – use the ANSOFF matrix to outline four possible (but realistic) options to grow the brand in the next 5 years (one in each quadrant). Use academic literature to justify whether you would use a new brand name or the existing brand (aprox 1000 words).
Referencing (Harvard style).
A minimum of five academic
references should be used (note that this excludes web references).
The report should be typed and
pages numbered, using 12pt. Times New Roman and 2.5cm margins throughout (A4
page set up).
Expert Solution
Introduction
Growth
strategy is a critical aspect of business that leads to the achievement of
great economic goals. The contemporary business world is highly competitive due
to the digitalization of operations. The use of market segments, penetration,
product and market development is the primary tool for growth. NIKE mainly uses
effective marketing to reach more clients worldwide. The four quadrants of the
ANSOFF matrix are applied to make marketing and business development
successful. Customer service is also used to make NIKE attain its business
objectives and maintain its competitiveness. The company believes in extensive
advertising to air out its products and services. NIKE uses market penetration,
product and market development and diversification to make its marketing
process effective.
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