2. Business Growth Strategies

Business growth strategies are plans that companies use to expand and increase their revenue. Two common strategies are: 1. **Market Penetration**: This involves increasing sales of existing products to current customers or attracting new customers in the same market. This could be done through promotions or improved marketing. 2. **Market Development**: This strategy focuses on introducing existing products to new markets. It could include expanding to different geographical areas or targeting a new demographic. Both approaches aim to boost sales and enhance the company's market presence.