The four growth strategies. Introduction: The method used by the company to expand the business in the domestic market and the global market is known as growth strategies. Growth strategies involve the market penetration, product development, market development and diversification.

Question

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Answer 1

Question

Chapter 2.7, Problem 1CY

Summary Introduction

To determine: The four growth strategies.

Introduction: The method used by the company to expand the business in the domestic market and the global market is known as growth strategies. Growth strategies involve the market penetration, product development, market development and diversification.

Expert Solution & Answer

Answer to Problem 1CY

The four growth strategies of marketing are product development, diversification, market penetration and market development.

Explanation of Solution

The four growth strategies are explained below:

Market penetration: The aim of the market penetration is to increase the number of sales of the current goods and services in the current market to increase the market share. Thus, to increase the market share, a company has to attract its customer to sell the existing product.

Market development: Market development refers to the expansion of the market. The existing product should be sold in the whole country and foreign market along with the households. It means increasing the sales.

Product development: The objective of the product development is to increase the amount of sale to its customer with the aim to increase turnover. The developed product can be obtained by investing in the research and development.

Diversification: Diversification is the major step of the growth strategy in the market. It is a very riskiest strategy. Under the diversification, new goods and service are introduced in the market for the expansion of the market.

Conclusion

Thus, the four growth strategy of the marketing is diversification, market penetration, market development and product development.

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Answer 2

Question

Chapter 2.7, Problem 1CY

Summary Introduction

To determine: The four growth strategies.

Introduction: The method used by the company to expand the business in the domestic market and the global market is known as growth strategies. Growth strategies involve the market penetration, product development, market development and diversification.

Expert Solution & Answer

Answer to Problem 1CY

The four growth strategies of marketing are product development, diversification, market penetration and market development.

Explanation of Solution

The four growth strategies are explained below:

Market penetration: The aim of the market penetration is to increase the number of sales of the current goods and services in the current market to increase the market share. Thus, to increase the market share, a company has to attract its customer to sell the existing product.

Market development: Market development refers to the expansion of the market. The existing product should be sold in the whole country and foreign market along with the households. It means increasing the sales.

Product development: The objective of the product development is to increase the amount of sale to its customer with the aim to increase turnover. The developed product can be obtained by investing in the research and development.

Diversification: Diversification is the major step of the growth strategy in the market. It is a very riskiest strategy. Under the diversification, new goods and service are introduced in the market for the expansion of the market.

Conclusion

Thus, the four growth strategy of the marketing is diversification, market penetration, market development and product development.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 2.7, Problem 1CY

Summary Introduction

To determine: The four growth strategies.

Introduction: The method used by the company to expand the business in the domestic market and the global market is known as growth strategies. Growth strategies involve the market penetration, product development, market development and diversification.

Expert Solution & Answer

Answer to Problem 1CY

The four growth strategies of marketing are product development, diversification, market penetration and market development.

Explanation of Solution

The four growth strategies are explained below:

Market penetration: The aim of the market penetration is to increase the number of sales of the current goods and services in the current market to increase the market share. Thus, to increase the market share, a company has to attract its customer to sell the existing product.

Market development: Market development refers to the expansion of the market. The existing product should be sold in the whole country and foreign market along with the households. It means increasing the sales.

Product development: The objective of the product development is to increase the amount of sale to its customer with the aim to increase turnover. The developed product can be obtained by investing in the research and development.

Diversification: Diversification is the major step of the growth strategy in the market. It is a very riskiest strategy. Under the diversification, new goods and service are introduced in the market for the expansion of the market.

Conclusion

Thus, the four growth strategy of the marketing is diversification, market penetration, market development and product development.

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Answer 4

Question

Chapter 2.7, Problem 1CY

Summary Introduction

To determine: The four growth strategies.

Introduction: The method used by the company to expand the business in the domestic market and the global market is known as growth strategies. Growth strategies involve the market penetration, product development, market development and diversification.

Expert Solution & Answer

Answer to Problem 1CY

The four growth strategies of marketing are product development, diversification, market penetration and market development.

Explanation of Solution

The four growth strategies are explained below:

Market penetration: The aim of the market penetration is to increase the number of sales of the current goods and services in the current market to increase the market share. Thus, to increase the market share, a company has to attract its customer to sell the existing product.

Market development: Market development refers to the expansion of the market. The existing product should be sold in the whole country and foreign market along with the households. It means increasing the sales.

Product development: The objective of the product development is to increase the amount of sale to its customer with the aim to increase turnover. The developed product can be obtained by investing in the research and development.

Diversification: Diversification is the major step of the growth strategy in the market. It is a very riskiest strategy. Under the diversification, new goods and service are introduced in the market for the expansion of the market.

Conclusion

Thus, the four growth strategy of the marketing is diversification, market penetration, market development and product development.

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Answer 5

Chapter 2.7, Problem 1CY

Summary Introduction

To determine: The four growth strategies.

Introduction: The method used by the company to expand the business in the domestic market and the global market is known as growth strategies. Growth strategies involve the market penetration, product development, market development and diversification.

Expert Solution & Answer

Answer to Problem 1CY

The four growth strategies of marketing are product development, diversification, market penetration and market development.

Explanation of Solution

The four growth strategies are explained below:

Market penetration: The aim of the market penetration is to increase the number of sales of the current goods and services in the current market to increase the market share. Thus, to increase the market share, a company has to attract its customer to sell the existing product.

Market development: Market development refers to the expansion of the market. The existing product should be sold in the whole country and foreign market along with the households. It means increasing the sales.

Product development: The objective of the product development is to increase the amount of sale to its customer with the aim to increase turnover. The developed product can be obtained by investing in the research and development.

Diversification: Diversification is the major step of the growth strategy in the market. It is a very riskiest strategy. Under the diversification, new goods and service are introduced in the market for the expansion of the market.

Conclusion

Thus, the four growth strategy of the marketing is diversification, market penetration, market development and product development.

Answer 6

Chapter 2.7, Problem 1CY

Summary Introduction

To determine: The four growth strategies.

Introduction: The method used by the company to expand the business in the domestic market and the global market is known as growth strategies. Growth strategies involve the market penetration, product development, market development and diversification.

Expert Solution & Answer

Answer to Problem 1CY

The four growth strategies of marketing are product development, diversification, market penetration and market development.

Explanation of Solution

The four growth strategies are explained below:

Market penetration: The aim of the market penetration is to increase the number of sales of the current goods and services in the current market to increase the market share. Thus, to increase the market share, a company has to attract its customer to sell the existing product.

Market development: Market development refers to the expansion of the market. The existing product should be sold in the whole country and foreign market along with the households. It means increasing the sales.

Product development: The objective of the product development is to increase the amount of sale to its customer with the aim to increase turnover. The developed product can be obtained by investing in the research and development.

Diversification: Diversification is the major step of the growth strategy in the market. It is a very riskiest strategy. Under the diversification, new goods and service are introduced in the market for the expansion of the market.

Conclusion

Thus, the four growth strategy of the marketing is diversification, market penetration, market development and product development.

Answer 7

Chapter 2.7, Problem 1CY

Summary Introduction

To determine: The four growth strategies.

Introduction: The method used by the company to expand the business in the domestic market and the global market is known as growth strategies. Growth strategies involve the market penetration, product development, market development and diversification.

Answer 8

Expert Solution & Answer

Answer to Problem 1CY

The four growth strategies of marketing are product development, diversification, market penetration and market development.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

The four growth strategies are explained below:

Market penetration: The aim of the market penetration is to increase the number of sales of the current goods and services in the current market to increase the market share. Thus, to increase the market share, a company has to attract its customer to sell the existing product.

Market development: Market development refers to the expansion of the market. The existing product should be sold in the whole country and foreign market along with the households. It means increasing the sales.

Product development: The objective of the product development is to increase the amount of sale to its customer with the aim to increase turnover. The developed product can be obtained by investing in the research and development.

Diversification: Diversification is the major step of the growth strategy in the market. It is a very riskiest strategy. Under the diversification, new goods and service are introduced in the market for the expansion of the market.

Answer 12

Conclusion

Thus, the four growth strategy of the marketing is diversification, market penetration, market development and product development.

Answer 13

Ch. 2.1 - Prob. 1CY Ch. 2.1 - Prob. 2CY Ch. 2.6 - Prob. 1CY Ch. 2.6 - Prob. 2CY Ch. 2.6 - Prob. 3CY Ch. 2.6 - What do the four quadrants of the portfolio...Ch. 2.7 - Prob. 1CY Ch. 2.7 - Prob. 2CY Ch. 2.7 - Prob. 3CY

The four growth strategies. Introduction: The method used by the company to expand the business in the domestic market and the global market is known as growth strategies. Growth strategies involve the market penetration, product development, market development and diversification.

Concept explainers

To determine: The four growth strategies.

Introduction: The method used by the company to expand the business in the domestic market and the global market is known as growth strategies. Growth strategies involve the market penetration, product development, market development and diversification.

Answer to Problem 1CY

Explanation of Solution

Want to see more full solutions like this?

Chapter 2 Solutions

The four growth strategies. Introduction: The method used by the company to expand the business in the domestic market and the global market is known as growth strategies. Growth strategies involve the market penetration, product development, market development and diversification.

Concept explainers

To determine: The four growth strategies. Introduction: The method used by the company to expand the business in the domestic market and the global market is known as growth strategies. Growth strategies involve the market penetration, product development, market development and diversification.

Answer to Problem 1CY

Explanation of Solution

Want to see more full solutions like this?

Chapter 2 Solutions

To determine: The four growth strategies.

Introduction: The method used by the company to expand the business in the domestic market and the global market is known as growth strategies. Growth strategies involve the market penetration, product development, market development and diversification.