Definition of Growth Strategy

Growth strategy is the plan and action of a company to expand and grow its market share than the one it currently has in existence. The strategy could be planned while keeping in the mind both, long and short-term goals.


For example, a company’s short-term growth strategy can be, increasing the sales for the first two quarters of the year. A long-term strategy would be increasing the market share by introducing new products with the existing or to expand the company’s marketplace among other countries.


Type of growth strategy:

  • Market Penetration
  • Product Development
  • Market Development
  • Diversification.

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