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Developing Strategies For Growth and Downsizing

BY: Raja Vikram | Category: Sales-Marketing | Submitted: 2010-06-01 03:33:02
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Article Summary: "This is about the few strtaegies that the companies work out for growth..."

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Companies develop different strategies for growth and downsizing. The present market is full of competition and hectic. Therefore companies work out for different strategies to have a growth in the market. The company's objective stays for "Profitable Growth". Hence the strategies that companies use are Market Penetration, Market Development, Product Development, and Diversification.

Market Penetration is a strategy used by the companies to tap the market or to increase sales with the current product without any changes or modifications. Most of the companies look at low pricing strategies to penetrate into the market. Then looking at Market Development where the company tries to find out new market locations and takes action to develop that market for the current products of the company.

Then it's about Product development where the company works on to develop the product without modifying the marketing strategies. Here the company introduces a new or modified product to the current market segment. Then the company looks to diversify its business, where the company works on other business or products which may or may not be related to the core business. Then comes Downsizing, where the company cuts down the unnecessary products or units which are not making any return on investment.

Hence these are the few strategies on which the companies work to retain profits and have a growth path. These strategies are developed according to the market situation and competitive analysis. These strategies work out for most of the companies. The company like HUL also does these. Hence these strategies help the company to look at their growth.

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Reference : Philip Kotler

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