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What is the most important aspect of business planning?
The most important aspect of business planning is the marketing plan section. This is because marketing techniques determines whether the business will make it to thrive or note.
Growth strategies include:
1. Market Expansion: whereby the organizations seeks to extend the services to a wider market.
2. Market Penetration
3. Product Expansion
I will post the last part am preparing on a word document in a short while. This is because of the timing factor.
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The only way to grow using existing products and markets is to increase market share, according to the article "Growth Strategies" at gaebler.com. Market share is the percent of unit and dollar sales a company holds within a certain market vs. all other competitors. One way to increase market share is by lowering prices. For example, in markets where there is little differentiation among products, a lower price may help a company increase its share of the market.
There is a clause in the questions
based on the readings,
Where are the readings stated?
They must bear crucial information for the decision. I have just given you a general view for small business
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