Intensive Growth
Intensive growth strategies involve expanding market reach and product lines. Launching new products or entering new markets leads to rapid growth, strengthening the company's position. Various ways to achieve intensive growth include:
This is the most common type of intensive growth strategy. It is employed when the price of the current commodities rises. A firm could use this approach to cut the prices of the goods to gain a larger market share.
Something occurs when an established item is brought into a new market. A corporation must release several advertisements and design a marketing plan to target market opportunities.
A corporation can use the product development strategy to expand its customer base when the present market indicates an interest in a new product.