BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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market growth
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market saturation
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market sharing
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market shrinking
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Detailed explanation-1: -Some examples of market growth opportunities are: Expansion of access to resources, such as new products and services, capital and people, etc. Higher productivity in business. Change in customer experience; enhanced customer service.
Detailed explanation-2: -For example, offering an additional service that your competitor doesn’t offer or getting your price point below that of a competitor’s may create a market opportunity for your business.
Detailed explanation-3: -(ˈmɑːkɪt ˌɒpəˈtjuːnɪtɪ ) noun. a situation in which a company can meet an unsatisfied customer need before its competitors. opening up new market opportunities in retailing.
Detailed explanation-4: -Market growth refers to expanding a market’s size and worth over time. For example, increasing client count, revenue, or market share often boosts it. Multiple variables, including population growth, higher consumer spending, and the introduction of new products and services, can contribute to market expansion.