3. In the case of intensification strategy, the firm pursues growth
within the existing businesses. intensification strategy
involves three alternatives:-
1)MARKET PENETRATION STRATEGY:- In this case the firm continues
with its current products ¤t market but it tries to
increase its market share through aggressive marketing in the
areas of advertising sales promotion, price cuts , etc .
INTENSIFICATION STRATEGY
4. 2)MARKET DEVELOPMENT STRATEGY :-
The firm enters into new markets
apart from current markets by offering the existing range of product.
For this purpose the firm has to undertake market research right
pricing effective promotion-mix & appointment of goods dealer’s
network.
3)PRODUCT DEVELOPMENT STRATEGY:-
The firm may continue with the
existing market but introduces improved products & substitutes. It
may also enter in new market with the help of improved and new
products.
5. DIVERSIFICATION STRATEGY
MEANING:- Diversification is one type of internal
growth strategy. It involves entry into new
products& in new markets. Diversification can be
defined as entry of a firm into new product or product
line, new services or new markets , involving
substantially different skill, technology & knowledge.