Growth strategy
Most companies have plans to grow their business and increase sales and profits. However, there are certain methods companies must use for implementing a growth strategy.
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Growth strategy is a long-term approach which are implemented by companies to expand their business depend on financial capabilities, competition level and SWOT analysis. The main Growth Strategies include as below:
Market Penetration
Market penetration strategy is used when we want to expand existing products within the same market. In other words, increasing marketing performance with current products or services in the market they are already operating in. One of the best solutions for doing this is incensement of market share by decreasing the prices or other methods.
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