Product-Market Expansion Grid and Portfolio Evaluation
Market penetration whereby a company is willing to enter the market to sell its products, and this can be achieved through ensuring that the company has a stronghold in the market and has the goals of raising its sales that is in making its product known to the consumers. A comprehensive property portfolio can be of substantial value, and one of the key components of it is the patent that is the right granted by the government where the patent holder excludes the others from selling, making, using, offering to sell, or the importation.
his helps the company to make known to the market its products. The product expansion, which is the selling of the company’s products were by the company makes many sales, and this can be done through making use of the new technologies that will raise the production level through ensuring that the product is readily available in the market in high amounts. The market expansion, which is the sales that are made on the product, is high, and thus, the company is forced to produce more of that product so that it can curb the consumers by providing the products at the right time and place.
Diversification is the ability of the company to have many branches, which results from the desire of the consumers to use that product, and thus, the company sees the need of providing the product in several areas as the consumers know about the product. For example, a company that has developed the original technology a patent provides a barrier against the competitor’s entry into the markets. This means that the company will be the provider in that market and thus the expansion of the product. The patent portfolios are for offensive purposes in which a company will be able to make more revenue as the product will be highly sold at a given time.
A patent strategy involves a development phase and a deployment phase. The development phase involves the evaluation of the patentable technologies and the procurement of the patents, and the deployment phase includes the competitive analysis, licensing, and litigation of the patents. The company that has this patent is able to expand the market in that it will use the technology to increase its production, meaning that it will provide the product in the market without delays and even may end up introducing the production of more products. The company expansion will be easy because the establishment of other branches in several areas will be easy due to the right they have that protects their products from the competition of the same product from other companies.