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Dear Mohammed,
As you go about developing your growth strategy, you should first consider the lower rungs of what are known as Intensive Growth Strategies. Each new rung brings more opportunities for fast growth, but also more risk. They are:
1. Market Penetration.
2. Market Development.
3. Alternative Channels.
4. Product Development.
5. New Products for New Customers.
There are three viable alternatives when it comes to an implementing an Integrative Growth Strategy. They are:
1. Horizontal.
This growth strategy would involve buying a competing business or businesses.
2. Backward.
A backward integrative growth strategy would involve buying one of your suppliers as a way to better control your supply chain.
3. Forward.
Acquisitions can also be focused on buying component companies that are part of your distribution chain.
Regards,
Hany Sewilam AbdelHamid
Head of Business Development | Sales & Marketing
Entrepreneurship Coach & Consultant
Digital & Social Marketing Certified Expert
