2.3 Evaluate the advantages of intensive strategies in a business.
1. Increased market share: Intensive strategies such as market penetration, product development, and market development can help a business increase its market share by attracting new customers or convincing existing customers to buy more of their products or services.
2. Competitive advantage: By focusing on specific markets and customers, intensive strategies can help a business differentiate its products or services from competitors, leading to a competitive advantage.
3. Increased profitability: Intensive strategies can help a business increase its revenues and profitability by expanding its customer base, selling more products or services, or entering new markets.
4. Improved brand reputation: Intensive strategies can help a business build a strong brand reputation by delivering exceptional value to customers and meeting their needs effectively.
5. Flexibility and adaptability: Intensive strategies allow a business to be flexible and adapt to changing market conditions and consumer preferences, enabling them to stay competitive in the long run.
6. Faster growth: Intensive strategies can help a business achieve faster growth compared to other strategies, as they focus on aggressively expanding market share and expanding the business.
Overall, intensive strategies can help a business achieve sustainable growth, competitive advantage, and increased profitability in the market.