Question

- Select a company you are familiar with

- Come up with examples on how this business you have selected can apply the internet to support the growth strategies (market penetration, product development, market development, and diversification)

2-3 EXAMPLES TO EACH

Answer 1

The company that i have chosen here is Amazon, which is one of the biggest e-commerce platforms across the globe. The reason I chose this company is because of how well they use the internet to support their growth strategies.

Market penetration: With the help of the internet amazon has made itself so familiar to the world that it sells almost every kind of product from every kind of industry through it based on their reliability. And that too covering half of the world and spreading in each country with every year passing, covering more and more territory.

Product development: Amazon promotes all its products through all its development phases on the internet both for selling as well as reselling purposes. Amazon provides an opportunity for buyers and sellers to connect, so they don't have to worry about manufacturing the products, so their sole focus is on promoting the products and for this they use social media very efficiently.

Market development and diversification: Also it studies the buying patterns and behaviour of customers using social media. This way they are able to analyse exactly what the customers are looking for and place their products in the right way to the right target audience perfectly. Research of every new region, tradition, and set of people and their culture through the power of the internet has helped in market development and diversification.