growth strategies Flashcards
What is the first step on growth strategies
The first step in growth strategies is to have a brief analysis for your current state, i.e.
Which segments of our business have the highest future potential?
or
Do we have funding to support higher growth?
or
Is this industry growing?
or
How are we growing relative to the industry?
or
what have our competitors done in marketing and product development ?
or
How are our prices inline with our competitors?
What is the second step on growth stratetgies
The second step on growth strategy is to see what does fit into a growth plan?
For example, we can increase our distribution channels?
or
we can increase our production line?
Furthermore, we can invest in major marketing campaign ?
Also, we can diversify our products and services that are offered?
Moreover,we can acquire new competitors or a company in a different industry.
