Expansion Strategy

An expansion strategy is a plan that businesses use to grow and reach new customers or markets. This can involve adding new products, entering different geographic areas, or acquiring other companies. The goal is to increase sales and market share. Expansion strategies can take various forms, such as opening new locations, launching online platforms, or developing partnerships. Successful expansion requires careful analysis of market opportunities, customer needs, and possible risks, ensuring that the growth aligns with the company’s overall goals and resources.