Comment on the "Practical Do's for Growth Stage." Suggest additional advice and share your experience with the class. Focus on products within their Growth stage. Please give examples.
Practical 'Do's' for Growth Stage
1. Sustain and protect your drivers for growth (i.e. technology/IP, logistics, operation resources, ecosystem)
2. Forward-think and focus on developing large opportunities/markets/segments
3. Avoid Price competition; sell on values, features, benefits
4. Improve offering's performance and services, reduce total cost of ownership for customers
5. Build a Customer Relationship Management system (CRM) to feed into your Sales Lead Management (SLM) system
6. Stage your growth systematically (updates, upgrades, replacements) and don't hesitate to cannibalize your early successes; do it before competition does it to you on your worst timing...
7. Keep evolving your ecosystem's footprint and marketing mix strategies
The growth stage is a period of rapid revenue growth, as more customers become aware of the product and its benefits and greater market segments are targeted. A current example is the tablet market, in which Apple introduced the iPad in January of 2010, and three years later there are a wealth of competitors on the market, some touting the benefits of playing games, others reading books, watching movies, working on the run, or as ...
This solution comments on the "Practical Do's for Growth Stage", gives additional advice and provides examples of products in their growth stage. APA formatted references are included.