- Market-growth strategy by attracting new customers
- Gaining market share thru attracting customers buying competitors’ offerings
- Increasing quantity of purchases by customers
- Lowering costs
How can a small business grow?
- Gain access to new markets
- Acquiring related firms
- Vertical integration (acquisition of entity occupying a different level in value-delivery chain)
- Horizontal integration (acquisition of firms at same level)
- Collaboration with other companies (for example if a company a company sells sandals, it might arrange to sell this as a convenience item in a local hotel or thru a vendor at the beach.