WeWork Ansoff Matrix is a marketing planning model that helps co-working and office space operator to determine its product and market strategy. Ansoff Matrix illustrates four different strategy options available for businesses. These are market penetration, product development, market development and diversification.
Within the scope of Ansoff Matrix, WeWork uses all four growth strategies in an integrated manner:
1. Market penetration. Market penetration refers to selling existing products to existing markets. WeWork engages in market penetration strategy extensively. The global flexible workspace provider uses print and media marketing in general and social media marketing in particular to increase its penetration into the market.
2. Product development. This involves developing new products to sell to existing markets. WeWork engages in new product development rarely. WeWork Workplace software for landlords for online booking of desks, offices, collaboration hubs, and meeting rooms is one of the very few noteworthy cases of new product development by the co-working giant.
3. Market development. Market development strategy is associated with finding new markets for existing products. New market development is one of the main growth strategies for WeWork. Starting only with one location in Manhattan, USA in 2011, the workspace provider has expanded to a network of 756 locations in 38 countries, including 277 locations in the US as of December 2021.
4. Diversification. Diversification involves developing new products to sell to new markets and this is considered to be the riskiest strategy. WeWork does not engage in diversification business strategy, but it may do so in the future.
WeWork Inc. Report contains the above analysis of WeWork Ansoff Matrix. The report illustrates the application of the major analytical strategic frameworks in business studies such as SWOT, PESTEL, Porter’s Five Forces, Value Chain analysis and McKinsey 7S Model on WeWork. Moreover, the report contains analyses of WeWork leadership, business strategy, organizational structure and organizational culture. The report also comprises discussions of WeWork marketing strategy, ecosystem and addresses issues of corporate social responsibility.