Concentrated Growth Strategy

A concentrated growth strategy involves focusing on increasing

market share in existing markets. This strategy is also sometimes
called a concentration or market dominance strategy. In a stable
environment where demand is growing, concentrated growth is a
low risk strategy. Concentration may involve increasing the rate of
use of a product by current customers; attracting competitor's
customers; and/or attracting nonusers/ new customers.




Market development
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A market development strategy targets non-buying customers in
currently targeted segments. It also targets new customers in new
segments. (Winer)
A marketing manager has to think about the following questions before
implementing a market development strategy: Is it profitable? Will it
require the introduction of new or modified products? Is the customer
and channel well enough researched and understood?
The marketing manager uses these four groups to give more focus to
the market segment decision: existing customers, competitor
customers, non-buying in current segments, new segments.


product development


Definition
The creation of products with new or different
characteristics that offer new or additional benefits to the
customer.
Product development may involve modification of an
existing product or its presentation, or formulation of an
entirely new product that satisfies a newly defined
customer want or market niche.


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development.html#ixzz1oEJ1162y


innovation strategy

Definition
A plan made by an organization to encourage
advancements in technology or services, usually by
investing in research and development activities. For
example, an innovation strategy developed by a high
technology business might entail the use of new
management or production procedures and the invention
of technology not previously used by competitors.



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strategy.html#ixzz1oEJJ1Qis


Concentric diversification involves the acquisition of
businesses that are related to the acquiring firm in terms of
technology, markets, or products. With this grand strategy, the
selected new businesses possess a high degree of compatibility
with the firms current businesses. The ideal concentric
diversification occurs when the combined company profits
increase the strengths and opportunities and decrease the
weaknesses and exposure to risk. Thus, the acquiring firm
searches for new businesses whose products, markets,
distribution channels, technologies, and resource
requirements are similar to but not identical with its own,
whose acquisition results in synergies but not complete
interdependence.