Market Growth
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A company is contemplating a significant (5%) growth in its marketshare over the next three years. To accomplish this, the senior team has been debating whether to add one or new products for current markets or to offer current products to new markets. What strategic issues are involved in these two directions?
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A company is contemplating a significant (5%) growth in its marketshare over the next three years. To accomplish this, the senior team has been debating whether to add one or new products for current markets or to offer current products to new markets. What strategic issues are involved in these two directions?
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If a company offers new products to their current market, the advantage is that the market is already established. This is particularly effective when the company has built up a sufficient brand image, as the company will be able to target their current customers with the new products based on that image. The additional strategic issues in expanding ...
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