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Which growth strategy is designed to increase sales of existing products to current customers?

Market penetration The aim of this strategy is to increase sales of existing products or services on existing markets, and thus to increase your market share. To do this, you can attract customers away from your competitors and/or make sure that your own customers buy your existing products or services more often.

Which of the following strategies are utilized to introduce existing products to new markets?

Answer: Market development. Explanation: Market development is the process of rebranding a product to make an already existing product more marketable to consumers(both those already consuming the products and those yet to consume them).

What is the second step in the strategic planning process?

Set goals Setting goals is the second step of the strategic planning process. Goals can be set for both individual departments and for the business as a whole, depending on their purpose.

What is the 2nd step in operational planning?

What is the second step in the operational planning process? use marketing metrics to monitor how the plan is working.

What do I write in an action plan?

How to Write an Action Plan | Best Practices

  1. Specific – well-defined and clear.
  2. Measurable – include measurable indicators to track progress.
  3. Attainable – realistic and achievable within the resources, time, money, experience, etc. you have.
  4. Relevant – align with your other goals.
  5. Timely – has a finishing date.

What are the biggest obstacles that you may encounter in doing action plan?

Watch for these six barriers to effective planning, so you can address the issues that may stop your plan before you launch it.

  • Lack of Leadership.
  • Excessive Distractions Prevent Effective Planning.
  • Lack of Systems.
  • Limited Manpower to Complete Tasks.
  • Impractical Business Planning.

What are common obstacles people have to overcome?

7 Challenges Successful People Overcome

  • Age. People always try to say that you’re too young or too old to do something.
  • What other people think. Comparing your accomplishments to other peoples and caring what others think about every thing you do can be very self-destructive.
  • Toxic people.
  • Fear.
  • Negativity.
  • The past or the future.
  • The state of the world.

What are the three major obstacles of life?

10 Biggest Obstacles Keeping You From Making Change Successfully

  • Facing the Unknown. We become comfortable with what is familiar.
  • The Need for Instant Gratification.
  • Misinformation and Getting the Wrong Advice.
  • Pressure to Conform.
  • Overthinking your Goal.
  • Limited Finances.
  • Questioning your Abilities.
  • Being Indecisive.

What are obstacles examples?

The definition of an obstacle is something that gets in the way or that slows or stops progress. An example of an obstacle is not having the tuition money to go to college. An example of an obstacle is when a road block is set up in your way that prevents you from passing by.

What things prevent me from performing my best?

If you want success to find you attractive and be associated with you, avoid these 7 things.

  • Procrastination.
  • Fear of Failure.
  • Ignorance.
  • Lack of Purpose.
  • Lack of Courage.
  • Fault Finding.
  • Lack of Self-belief.