Some examples of successful growth strategies include market penetration, market development, product development, and diversification. Market penetration involves selling more of the existing products to the current customers. Market development involves selling existing products to new markets. Product development involves creating new products for the current market. Diversification involves creating new products for new markets. These strategies can help a company to escape stagnation and achieve growth.
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Has your business growth reached a plateau? Use our Growth Strategy Toolbox to test, execute, and share new growth strategies across the team. Compani...
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Has your company's growth stagnated and reached a plateau? Download the presentation template to test, execute, and share new growth strategies across your entire team. Companies can use different growth strategies to escape stagnation, but execs also need tools to communicate the timeframe of a strategy, decide which growth areas to prioritize, or assess the organization's current capabilities and if they're enough for the next growth challenge.