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Definition of Intensive Strategy
Before moving on to the types, pupils should be clear about the meaning and interpretation of this strategy. This refers to those specific plans that demand intensive efforts, so that performance of the present goods in market improves. Various types of intensive strategies are put into effect when a company struggles in enhancing their competitive position in the market with their current commodity. Such efforts are employed when intensive strategies are put up by the company.
There are mainly three types of intensive strategies which are put into effect to improve a company’s competitive position in a market. The three types include market penetration, product development and market development. Gather more information on this from our Intensive Strategies homework help experts.
Improvement through Market Penetration
In market penetration mode a firm’s primary goal is to enhance market share. This is done through more marketing efforts for the existing goods and services. This means there is no modification of existing commodity or no new product’s launch. It just increases sales volume of existing goods by focusing on marketing efforts.
Development of New Product
In this situation or strategy, a firm tries to change its position in the market by creating higher sales of the existing commodity by improving and modifying it. A significant amount of expenditure is involved in developing a new product or changing current goods.
In market development, a company launches their existing commodities in new markets and geographical areas. It merely means that the company doesn’t launch any new products or modify their goods. The same product which exists is launched in new markets in new geographical areas. Our Intensive Strategies assignment help experts explain this in detail in their customised solutions.
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