The business starts to progress when the essential aspects are considered the most effective. all that is essential is the most effective way to approach the business by taking into account the varied factors like sales, marketing, legal advice as well as finance. Various tactics have been followed by shubhodeep prasanta das to expand the varied business.
Unique strategies in business:
It is essential to do the required research on the competitors. This will be useful to strengthen the weaker part of the business and take necessary steps for the progress of the industry.
New geographies– investing in marketing efforts will help to expand the business even in the location. This can be a regional, international, or national expansion of the business by increasing distribution. Offering products mainly outside the present geographical area will be useful to generate a new source of revenue streams when the distribution is done effectively.
Share wallet- by giving importance to the retention of the customer and the quality of the service, companies can expand the business to the greatest extent. Selling to the present existing customers at a less cost compared to other marketing efforts will have a good influence on the customers and at the same will be useful to retain the loyalty of the customers.
Diversification- at this stage the company will create a new form of products for an entirely new market. this form of growth leads to growth of the market internationally or areas where a company never has a prior history of sale. Diversified companies will stake in varied multiple industries using a varied range of different products.
Acquisitions– here the companies will buy the other business. Here the company would buy the other competitor to absorb their share in the market and also acquire assets as well. this will lead to the immediate growth of the business.
New channels- at this stage the company will use the new channels for the distribution of the products and lead to the expansion of the business.