Ginni Rometty is an American business executive who is currently the executive chairman of IBM. She is known for her work in the field of technology and has played a key role in shaping the direction of the company during her tenure as CEO. According to Celebrity Net Worth, Rometty has an estimated net worth of $60 million.
Rometty began her career at IBM in 1981 as a systems engineer and has worked her way up through the ranks to become one of the most respected executives in the industry. She has held a number of leadership positions within the company, including head of sales and distribution, and was named president and CEO in 2012.
During her time as CEO, Rometty has focused on transforming IBM into a more innovative and agile company, with a particular emphasis on cloud computing and artificial intelligence. Under her leadership, IBM has made significant investments in these areas and has seen its stock price rise significantly.
In addition to her work at IBM, Rometty is also known for her philanthropic efforts. She has served on the board of directors for several non-profit organizations, including the National Academy Foundation and the U.S. Fund for UNICEF.
Rometty's success and leadership in the tech industry have earned her numerous accolades and awards, including being named one of Fortune's Most Powerful Women in Business for nine consecutive years and receiving the Edison Achievement Award for her contributions to the field of technology.
Overall, Ginni Rometty's net worth of $60 million is a reflection of her hard work and dedication to her career in technology. Her leadership and vision have helped to shape the direction of IBM and have made her one of the most respected executives in the industry.
Product/market expansion grid
The matrix aids growth plans through the introduction of existing or new products, in existing or new markets. The Product Market Expansion Grid The product market expansion grid, also called the ansoff matrix, is a tool used to develop business growth strategies by examining the relationship between new and existing products, new and existing markets, and the risk associated with each possible relationship. Environmental Factors Affecting the Productivity in Ecosystem: 1. A good example is the usage of toothpaste. Harvard Business Review, Vol. For example, if people associate CMS Inc with content calendars only, they will need a rebranding to be trusted with new products.
What is a market product grid and why should you use one?
Typical systems are volume discounts, bonus cards and customer relationship management. Other than that, the diversification strategy also includes the acquisition of other companies in a different market. The matrix aids growth plans by introducing new or existing products in new or existing markets. Finally, some products or business units simply age and die. I also published a post on what the Market Product Grid is and how Marketing plays a role in every stage of the four development strategies. Used when companies want to introduce new products to new markets, diversification requires a significant commitment of both time and resources. In ecology, productivity is the rate at which energy is added to the bodies of organisms in the form of biomass.
Understanding the Product Marketing Expansion Grid
This would entail selling the products via e-commerce or mail order. This strategy is used when a company has identified markets that were previously unidentified or when it wants to expand its market reach. This could be geographically or demographically. The introduction of new products may involve creating an entirely new brand for a product range or integrating existing brands with other lines into one cohesive company image. Product Development Product development strategies focus on creating a new product to sell in the existing markets to achieve growth.
By carefully integrating all of these marketing strategies into a marketing mix, companies can ensure they have a visible, in-demand product or service that is competitively priced and promoted to their customers. Ansoff reinforces that this strategy will require the company to acquire new skills, techniques and possibly facilities. The goal is to increase market share. As we all know this is a very crowded space and how do those software companies grow in the red sea of competition? How is the Ansoff Matrix used for business growth? Research has shown that the toothbrush head influences the amount of toothpaste that one will use. What is Product-Market Grid The product market grid is a tool for the consideration of which growth strategy the company can be used in the future. Here too, there are a number of tactics to enter and develop a new market for existing products. Definition: The Expansion Strategy is adopted by an organization when it attempts to achieve a high growth as compared to its past achievements.
What are the major productivity functions of ecosystem? Potentially new pricing structures to offer start-ups an incentive. As a general rule, full-stack marketing experts are best suited for this role 6. The product may be related or unrelated to the existing products. This early research helps ensure products are useful and will stimulate growth. This is the highest risk strategy in the product market grid to implement but highest reward in exchange. Every business strategy needs to consider the marketing efforts that come along with a fundamental business decision.
It can also deploy email marketing campaigns to the existing database. There is related diversification and unrelated diversification. Diversification The last strategy is There are two types of diversification. One can diversify from a food industry to a mechanical industry for instance. A market product grid helps companies plot out their growth strategy and visualize the risks associated with expansion.
Summary of Product/Market Grid by Ansoff. Abstract
Created by the father of strategic management, Igor Ansoff, the Product Market Expansion Grid is known to be used by many Fortune 500 companies such as Philips, IBM and General Electric. This one leverages new products in existing markets. A new market can be developed by distributing to a new neighborhood, tapping new distribution channels or trying a new pricing model to attract different customer groups. This is usually determined by focusing on whether the products are new or existing and whether the market is new or existing. The market environment change making some products for selling less profitable.
There are a variety of ways to do so; but how do you know which strategy is right for your venture? This strategy is considered low-risk, as it involves existing products and existing markets. This beer had originally been made to be sold in countries that have a colder climate, but now it is also being sold in African countries. Diversification: Company strategies based on diversification are the most risky type of strategies. Often existing communication channels are leveraged. How to make a market product grid? The model was invented by The Ansoff Matrix has four alternatives of marketing strategies; Market Penetration, product development, market development and diversification. There are two types of productivity, namely: Primary Productivity; Secondary Productivity; Primary Productivity How is productivity related to the trophic level? Read also What is an exon and intron? It may have to increase advertising budgets, focus on specific marketing channels existing or new , and enhance collateral. What is Product-Market Expansion Grid? Diversification strategies should always be undertaken with the Ansoff Matrix in mind to ensure that companies are developing products and services that will meet customer needs.
A market product grid is also known as an Ansoff Matrix or a product-market expansion grid. One of the most effective methods is the product market expansion grid. Marketing needs to research the buying persona, what they are interested in, what makes them purchase a product, and where they are. In the concentric diversification, synergies can be leveraged to market the new products. This is so as it is targeting a new market and one may not quit tell how the out come may be.
What is the Product market expansion grid? Matrix of Product market
He took advantage of the virgin brand and diversified into various fields such as entertainment, air and rail travel foods etc. Interested in growing your business? Value-added diversification: It is when a firm expands into new markets or industries by adding value to products or services of other companies. The Product Market Expansion Grid offers four main suggested strategies: Market Penetration, Market Development, Product Development, and Diversification. For example, CMS Inc is mainly catering to the US market. When a firm finds brands or businesses that are and profitable or that no longer fit the overall strategy it must carefully prune, harvest, or diverse them. Companies must approach this strategy with caution, though, since it tends to be more expensive and time-consuming than market-focused tactics.
