New product development (new products, existing markets): This strategy is a good choice for an organisation that has a strong brand name, such as Virgin or Apple. Businesses adopting this strategy benefit from knowing their customer base, market research and promotion easier. Such a strategy is required if an existing product has become obsolete and may also be used if there is potential for new segments of the market to be targeted or if complementary products can be produced. there is also the possibility new innovative products being developed for the market, as Apple has done with its products. However, this approach may involve producing and selling products it has limited expertise with, and where there may be already established producers.