Business Planning Question

Business & Finance
Tutor: None Selected Time limit: 1 Day

What is the most important aspect of business planning? Considering the growth options for a new technology venture that has successfully launched a product, based on the readings, which growth strategy would you consider to be the most compelling, and why?

Oct 3rd, 2015

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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

4. Diversification

5. Acquisition

I will post the last part am preparing on a word document in a short while. This is because of the timing factor.




Please let me know if you need any clarification. I'm always happy to answer your questions.
Sep 18th, 2015

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

Sep 18th, 2015

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