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6 views

gdb 1 (2)

Uploaded by

silkhafsa483
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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The most appropriate growth strategy for the company to pursue is market development.

Market
development includes expanding markets for existing products. In market development we target
new segments and expand our business geographically. The reason behind it is because, the
business is already established in Pakistan and is receiving potential customer demand from
other countries which is a great opportunity to expand the existing business on a global scale. It
will allow the business to diversify its customer’s base reducing dependency on a single market.
Relying solely on a one market can expose a business to significant risks such as economic
downturns in that specific market. It can also help increase the business’s brand recognition.
Ultimately the successful market development will result in increased revenue.

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