The most common growth strategy is market penetration, which focuses on increasing sales of existing products in existing markets. Market penetration requires identifying and targeting existing customer segments to expand the customer base and market share.

Market penetration involves aggressive marketing campaigns and pricing tactics to attract customers and increase sales within current markets. This growth strategy is effective for businesses looking to capitalize on their existing products and markets before considering expansion into new markets or developing new products. Read more about What is the Most Common Growth Strategy? Unveiling the Top Approach …