The document outlines various business growth strategies, including market penetration, product development, and diversification, emphasizing their dependence on financial conditions and market dynamics. It discusses strategic objectives and frameworks like the Ansoff Matrix and PEST analysis to guide companies in making informed growth decisions. Additionally, it highlights the significance of effective sales strategies, distribution channels, and the marketing mix in enhancing business performance.

1. BUSINESS
GROWTH STRATEGY
The method a company uses to expand its business is
largely contingent upon its financial situation, the competition and even
government regulation. Some common growth strategies in business
include market penetration, market expansion, product expansion,
diversification and acquisition.
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2. STRATEGY
OBJECTIVES
Strategic business objectives are goals deemed most important to the current and
future health of a business. Objectives are prioritized by an organization through a
thorough analysis of business practices such as a SWOT analysis.

3. THE ANSOFF MATRIX
Ansoff's Matrix is a marketing planning model that helps a business
determine its product and market growth strategy.
Product DevelopmentMarket Penetration
DiversificationMarket Development
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4. MARKET PENETRATION
Market penetration is the name given to a growth strategy where the business focuses on
selling existing products into existing markets.
Distribution Channels
A distribution channel is a chain of
businesses or intermediaries
through which a good or service
passes until it reaches the end
consumer. It can include
wholesalers,
retailers, distributors and even
the internet itself.
Sales Staff
An effective sales person is
someone who can cultivate long-
term relationships with your
customers, someone who is
genuinely friendly, easy to talk to
and likable.
Offer Promotion
Sale promotions often come in the
form of discounts. Discounts impact
the way consumers think and behave
when shopping. The type of savings
and its location can affect the way
consumers view a product and affect
their purchase decision.
Products
A product can be a service or an
item. It can be physical or in
virtual or cyber form.
Every product is made at a cost
and each is sold at a price.

5. MARKET EXTENSION
Market development is the name given to a growth strategy where the
business seeks to sell its existing products into new markets.
New geographical markets; for example exporting the
product to a new country
New product dimensions or packaging: for example
New distribution channels (e.g. moving from selling
via retail to selling using e-commerce and mail order)
Different pricing policies to attract different customers
or create new market segments

6. Market development is the name given to a growth strategy where the business seeks to sell its existing products
into new markets.
NEW PRODUCT DEVELOPMENT
DEVELOPMENT
Product development is
the creation of a new or
different product that offers
innovative new benefits to the
end user.
Innovation is the engine of growth in
today's marketplace. The pressures to
innovate are unrelenting and the
contribution to total sales revenue
derived from new products will increase
significantly over the next decade.
Product development is the set of
activities starting with the perception
of a market need and ending in the
production and sale of a new product
satisfying that need.
Continuous improvement has become an
important strategy in improving organizational
performance. Unfortunately, product
development is often excluded in
continuous improvement programs due to the
special characteristics of product
development activities.

7. PRODUCT DIVERSIFICATION
Diversification is the name given to the growth strategy where a business
markets new products in new markets.
This is an inherently more risk strategy because the
business is moving into markets in which it has little
or no experience.
01
03 However, for the right balance between risk and reward, a
marketing strategy of diversification can be highly
rewarding.
02
For a business to adopt a diversification strategy,
therefore, it must have a clear idea about what it expects
to gain from the strategy and an honest assessment of
the risks.

8. PEST
ANALYSISPEST analysis describe a
framework of macro
environmental factors used in
the environmental scanning
component of strategic
management
Technological factors include technological
aspects like R&D activity, automation,
technology incentives and the rate
of technological change.
Technology
Economic factors include economic
growth, interest rates, exchange
rates, inflation rate. These factors greatly
affect how businesses operate and make
decisions.
Economic
Social factors include the cultural aspects and
health consciousness, population growth rate,
age distribution, career attitudes and
emphasis on safety.
Socio cultural
Political factors are basically how
the government intervenes in the
economy. Specifically, political factors have
areas including tax policy, labour
law, environmental law, trade
restrictions, tariffs, and political stability.
Political

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MARKETING MIX
The marketing mix definition is simple. It is about putting the right product or a combination thereof in the place, at the right time, and at the
right price.
Promotion is a very
important component of
marketing as it can boost
brand recognition and sales.
Promotion
The price of the product is
basically the amount that a
customer pays for to enjoy it.
Price
Placement or distribution is a
very important part of the
product mix definition.
Place
A product is an item that is
built or produced to satisfy
the needs of a certain group
of people.
Product

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