Wiki is a website developed for the purpose of spreading the knowledge in which the users of the website can come and create the content by editing it on their own. The wiki was started in 1994 when the Ward Cunningham started the name WikiWikiWeb to turn it as a knowledge base on one of its websites named c2.com. The purpose of this website is to provide knowledge to everyone without any boundaries. With the time, the company grew and reached to the most recognized knowledge base in the world with questions on its authenticity. The Ansoff matrix analysis is conducted for the wiki for the purpose of understanding its growth and operations.
Market Penetration
The wikis started in 1994 and started to get popularity at the start of the 21st century. In 2001, the wikis launched a website named Wikipedia which has eventually become the most famous and significant website for the wikis. In 2007, Wikipedia reached a high level of fame as it came in the top ten most famous websites in the world. The number of visitors for Wikipedia in 2018 was 1794600000 which speaks volumes of its success over the years (Wikipedia, 2020). The market penetration of the wikis is evident by this fame of the wiki’s website as the wiki’s kept a high focus towards improving the awareness of the websites and bring a high level of traffic to the websites.
Product Development
The wikis have a high focus towards product development because the basic concept of the wiki is on developing the knowledge base and there is no limit to the knowledge. The wiki offers a range of websites to expand its product line so that there can be a huge knowledge base with huge number of visitors on the website. There are 20 most common websites of the wiki which have been attracting millions of visitors on the website. Wikipedia is on top while the Wikia.com comes at the second spot with 168500000 visitors on the website. Wikihow.com, Wiktionary.org, word reference, Gamepedia.com, wikimeida.org, and Baseball-reference.com is on 3rd, 4th, 5th, 6th, 7th, and 8th spot with millions of visitors on the websites. The company has 20 famous websites that have over 5 million visitors showing the interest of the people towards visiting the wiki websites. The range of products is the reason for its success as people can visit it for a range of knowledge needed (Aelieve.com, 2020). This range of products offering in terms of a number of websites by wiki is the reason of its massive fame all over the world as a knowledge base.
Market Development
The market development is an important growth concept for companies but in the case of online companies like knowledge base, information providers and others that provides the knowledge rather than products have no geographic boundaries in terms of access. At the start, only the data related to Europe and America was found on the websites but with the growing interest of people of each region for the wiki websites, the company has become famous all over the globe. Almost all regions of the world visit the website and use it for editing and knowledge-sharing purposes. The market development of the wiki has turned the fortunes for the company in a way that it has become one of the most famous groups of websites all over the world (Wikipedia, 2020).
Diversification
The focus of the wiki has been on diversification in terms of their products development because the wikis have been producing the websites which are different in nature. Although all the websites are providing the knowledge but different types of knowledge which makes it unique. The company has not been involved in some type of related and unrelated business diversification as the growth of the company is directed towards developing websites and increasing the knowledge base of the company.
In the case of a business like a wiki that has its dependence on the number of visitors, product development or content development is highly important. This is the reason the highest focus of the wiki was on the development of products and more websites so that the number of visitors can be increased which would ultimately be leading the company towards growth.
References
Aelieve.com (2020). Best wiki websites. Website rankings 2019. Available at: https://aelieve.com/rankings/websites/category/reference/best-wiki-sites/
Wikipedia. (2020). History of wikis. Available at: https://en.wikipedia.org/wiki/History_of_wikis
Wikipedia. (2020). Wiki. Available at: https://en.wikipedia.org/wiki/Wiki#History