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What is Growth Strategy?

Life is about believing what you explore.A growth strategy gives your company purpose,and it answers questions about your long term plans.Everyone wants growth.It begins by identifying and accessing opportunities within your market.It is a plan for overcoming different challenges to realise its targets for expansion.Strategic growth involves developing initiatives that will help your business grow long term.They are essential as they keep your company working towards targets that go beyond what’s happening in market today.It requires to enhance its reach with existing target customers and acquire new ones.The purpose of growth strategy is to create a sustainable and profitable business expansion.One of the most essential growth strategy is market penetration.

Market penetration occurs when a company increases its presence in already existing market.A proper strategy helps you focus on what’s most essential for expanding your business.It is a set of action and plans that make a company expand its market share than before.Product development strategy means improving your product in order to meet expectations of customers.You have to conduct market research and analysis to find out feasibility of your growth.Plan execution means how you are going to achieve your goals and reach your target.

A growth strategy goes higher into customer relationships to uncover opportunities that engage,activate and retain.The market expansion allows you to grab market share of new and different market.It is a detailed outline that lists the businesses plan to take to expand operations,increase revenue and enhance market reach.Just define what the company hopes to achieve with growth strategy.You can outline what value the company’s products and services bring to its customers.Find who your ideal customers are and whether these individuals already buy services from the company.Just look for ways to enhance more opportunities to earn revenue.It helps companies to enhance productivity and efficiency.

By Roopal Arora


She is Roopal Arora.She has done engineering in Information Technology.She has done Masters in Business Administration in Information Technology.She is OCP and SAP professional.She has done two courses from British Council.She is Microsoft educator,buncee educator and wakelet educator.She is a brainmaths professional.She has 6 years experience in big IT firms like Wipro and CNEB network as IT professional.She is remotely working for Marucom private firm as Manager Technical.She is a content writer with many writing firms.She has been part of thirty Anthologies.She got featured in many magazines.