Business Growth Strategies and Market Research

Question: Describe about the Business Growth Strategies and Market Research. Answer: 1. The article is about the growth strategies in the market research. The article discussed the different process and ways which help in the growth of an organisation. It also discussed the viability, which is also responsible for the growth of the company. The article is itself in understanding the areas of the growth with the Anoffs matrix of opportunities and the analysis of the profit impact of the marketing strategies on the companys growth. In the editorial finding, the areas of the growth according to the marketing perspective are discussed[1]. Proper planning and implementation of the strategies in the marketing result in the growth and the success of the company. Moving from the existing markets to the new markets is to be done in planned and managed way. 2. The key marketing issues to be considered about the growth strategy: The key marketing issues which-which an organisation is to consider for the companies growth strategies is the Environmental Analysis which will help in understanding the factors such as the economy, political climate, marketing channels, legal and socio-cultural factors, profits, costs, financial resources and the human resources of an organisation. Swot Analysis, market share, new product innovation, distribution, marketing strategies such as the marketing Mix, positioning, target market, PESTEL Analysis are also helpful in the growth strategy[2]. For considering the growth strategy the organisation must also focus on the evaluation and financial projections, which help the company in projection the volumes of profit and loss and the market share. 3: Marketing perspective According to the marketing respective, it is believed by the companies that the greatest opportunity for the companys growth can be achieved with the launch of the new innovative products and also by improving the customer loyalty for the organisation. The companies from the marketing perspectives must innovate new products and must enter the new market. An organisation must focus on the marketing and should never give up for it whatever may the situation or the economic climate. According to the marketing perspective, the company must have the confidence as the marketing strategy really works and it is the responsibility of the company to make the perfect marketing budget which may also work at the time of the recession[3]. According to the Ansoff matrix from the marketing, perspective must focus on the market penetration which requires an organisation to focus on the customers and competition of the market. The company as per the marketing perspective must also focus on the develop ment of the new products which will help in the growth strategy. The organisation must also enter the new market segments and the foreign markets with the new channels of the distribution. References Green, Paul. "A Marketing Strategy For Practice Growth".In Practice37, no. 9 (2015): 481-484. "Growth Strategy: Up, Up And Away - B2B International".B2B International. Last modified 2016. Accessed September 18, 2016. https://www.b2binternational.com/publications/growth-strategy-up-and-away/. Ritter, Thomas and Henrik Andersen. "A Relationship Strategy Perspective On Relationship Portfolios: Linking Customer Profitability, Commitment, And Growth Potential To Relationship Strategy".Industrial Marketing Management43, no. 6 (2014): 1005-1011.