Often more risky than product development.Different pricing policies to attract different customers.New product dimensions or packaging (e.g.Market development A growth strategy where the business seeks to sell itsexisting products into new marketsĭifferent approaches to market development A great way of exploiting the existing customer base.Strong emphasis on effective market research (insights into customer needs) and successful innovation.A strategy that often plays to the strengths of an established business.Product developmentA growth strategy where growth a business aims to a business tointroduce new productsintroduce new products into existing markets into existing markets But will the strategy deliver enable the firm to achieve its growth objectives?. Unlikely to need significant new market research.It is likely to have good information on competitors and on customer needs.The business is focusing on markets and products it knows well.Restructure a mature as market by driving out competitors usual.
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