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BTEC Business Level 3, Unit 3, P1, P2, M1, D1
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BTEC Business Level 3, Unit 3 Introduction to marketing, Assignment 3 P5
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Unit 3. Introduction to marketing. Assignment 1‘A’ Listed Marketers. Apple and Nike.
P1
Organisation Introductions
Apple is an American multinational technology company headquartered in Cupertino, California, that designs,
develops, and sells consumer electronics, computer software, and online services. Apple is well known for its
size and revenues. Its worldwide annual revenue totalled $265 billion for the 2018 fiscal year. Apple is
the world's largest information technology company by revenue and in August 2018, Apple became the first
public U.S. company to be valued at over $1 trillion. The company employs 123,000 full-time employees and
maintains 504 retail stores in 24 countries as of 2018.
Nike is an American multinational corporation that is engaged in the design, development, manufacturing, and
worldwide marketing and sales of footwear, apparel, equipment, accessories, and services. It is the world's
largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment. As of 2012, it
employed more than 44,000 people worldwide. In 2014 the brand alone was valued at $19 billion, making it
the most valuable brand among sports businesses. As of 2017, the Nike brand is valued at $29.6 billion. Nike
ranked No. 89 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.
Marketing Strategies
Growth Strategies
There are certain methods companies must use for implementing a
growth strategy. The method a company uses to expand its business is
largely dependent upon its financial situation, the competition and
even government regulation. The four main growth strategies in
business include market penetration, market development, product
development and diversification.
One growth strategy in business is market penetration. Companies use a market penetration strategy when
they decide to market existing products within the same market it has been using. The only way to grow using
existing products and markets is to increase market share which is the percentage of sales a company holds
within a certain market vs other companies. This growth strategy carries the least amount of risk because the
company already has a lot of knowledge about their existing products and existing market. Apple uses market
penetration as their second most significant growth strategy because they apply this strategy by selling more
products to their current target markets. In particular, Apple achieves more sales by adding more authorized
sellers in its current markets to increase the total sales in their current market. Nike’s secondary growth
strategy is market penetration. Nike’s market penetration growth strategy is to increase their sales revenues
through more sales to sports enthusiasts in current markets that they already have experience in.
Another growth strategy is market development. This entails selling current products in a new market. There
are several reasons why a company may consider a market expansion strategy. First, the competition may
mean that there is no room for growth within the current market. If a business does not find new markets for
its products, it cannot increase sales or profits. This strategy carries slightly more risk than market penetration
because the company already has a lot of knowledge about their existing products but they have minimal
knowledge about the new market they are tackling. Apple uses market development as the least significant of
their growth strategies because they rarely attempt to sell their current products in new marketplaces because
they are normally doing so well in their current intended markets. Nike use market development as a
supporting growth strategy. This strategy facilitates the company’s growth by targeting new markets or market
segments. For example, when Nike enters new markets in Africa and the Middle East that they don’t have
much experience with to increase their total sales revenues.
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