strategies for growth
Post on 13-Apr-2016
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Strategies for Market Growth
Strategies for Market Growth
Companies are facing pressures to keep growing
Evidence suggests that it is hard to sustain above-average growth 30,000 new consumer products are launched
each year – over 90% of them fail! 9 out of 10 companies fail
The best way to enhance the bottom line is to know how to grow
Strategic Marketing Tools
• Developing strategies for growth and downsizing o The product / market expansion grid
• Ansoff's Matrix is used as a strategic
marketing planning tool to evaluate strategies for increasing sales
Ansoff Matrix
Market Penetration
A strategy for company growth by increasing sales of current products to current market segments without changing the product
Market Development
A strategy for company growth by identifying and developing new market segments for current company products
Product Development
A strategy for company growth by offering modified or new products to current market segments
Diversification
A strategy for company growth through starting up or acquiring businesses outside the company’s current products and markets
Downsizing
Reducing the business portfolio by eliminating products of business units that are not profitable or that no longer fit the company’s overall strategy
DISCUSSION
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