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General Strategies: Market Expansion

With this strategy marketers look to grow overall sales in one of two ways:

  • Grow Sales with Existing Products – With this approach the marketer seeks to actively increase the overall sales of products the company currently markets. This can be accomplished by:
  1. getting existing customers to buy more
  2. getting potential customers to buy (i.e., those who have yet to buy)
  3. selling current products in new markets.
  • Grow Sales with New Products – With this approach the marketer seeks to achieve objectives through the introduction of new products. This can be accomplished by:
  1. introducing updated versions or refinements to existing products
  2. introducing products that are extensions of current products
  3. introducing new products not previously marketed.
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