Theme 2-

• Business growth


  Enables businesses to increase the scale of their operation and competitiveness
• Internal (organic) growth


  • Low risk
  • Maintain own values without interference from stakeholders
  • Benefit from economies of scale and lower average costs
• Internal (organic) growth


  • Slower growth
  • Long period between investment and return on investment
  • Growth may be limited and dependent on reliability of sales forecasts
• Entering new markets


  1. Entering overseas markets

  2. Amending marketing mix (product, price, place, promotion)

  3. Taking advantage of technology
• Entering overseas markets


  A business operating in a domestic market begins to trade in other countries to try to achieve growth
• Amending marketing mix


  Vital when entering a new market, particularly an overseas market, to ensure the product appeals to the new market
• Taking advantage of new technology


  Enables businesses to target new markets, e.g. using e-commerce to sell to customers not near physical stores, or lowering prices to target lower-income markets