Growth Strategies Used by Walt Disney

Growth Strategies Used by Walt Disney

Name

University

Growth Strategies Used by Walt Disney

In order for a company to succeed, strategies have to put in place. Walt Disney’s success is attributed to the four strategies that were put in place which include market penetration, market development, product development and diversification. Detailed information of the growth strategies is given below.

Market Penetration. Growth in market penetration is achieved by increasing sales of existing products in the company’s current markets. One of the ways in which sales is increased in Walt Disney is its massive distribution of its products and services. Moreover, its creative creations has won the hearts of many and attracted new people every day (Williams 2017).

Market Development. Market development is clearly a risky move as it involves identifying new market segments for its current products. Market development is a growth strategy less frequently used in Walt Disney. However, the company has been able to open new markets close to their targets thus enabling their customers to have easy access to their products without necessarily travelling long distances to acquire them (Dozier, 2014).

Product Development. This strategy involves improving the current or existing markets by offering new products. For example, Walt Disney releases new movies occasionally to generate profit. Product development also aims at attracting customers based on new attributes introduced in their products (Williams, 2019).

Diversification. According to Dozier (2014), diversification can be related or unrelated. It is related if the business activities and the firm’s present business complement each other in such a way that increases to the competitive advantage. Under diversification, The Walt Disney Company aims at managing competition by creating new businesses that improve the company’s brand vogue in the international market (Williams, 2019).

Conclusion

From the information given above, it is evident that Walt Disney’s growth is attributed to the efforts made in implementing its strategies. To get a better understanding of the growth strategies used by Walt Disney, it is necessary to research on various articles on The Walt Disney Company in magazines, the internet and articles.

References

Beattie, A., (2019). Walt Disney: How Entertainment Became an Empire.

Williams, A., (2017). The Walt Disney Achieves Growth Partly. 3801, 6-8.

Dozier, B., (2014). International Marketing Strategy Report: Walt Disney Parks & Resorts.

Williams, A., (2019) Disney’s Generic Competitive Strategy and Intensive Growth Strategies,