Target markets that are similar to its current

target markets that are similar to its current consumers
● In an unrelated diversification, the new business lacks any common elements with the
present business
○ Do not capitalize on either core strengths associated with markets or with
products. Thus, they would be considered very risky
● While all four growth strategies present unique challenges for marketers, a market
penetration strategy is considered the easiest to implement since it focuses on
promoting existing products to existing customers
● Marketers may also develop strategies for downsizing their business operations by
either exiting markets or reducing their product portfolios for many reasons. Ex. they
have entered a market where they have little or no experience, diversified into markets
or products that do not quite fit with current products, markets, or capabilities, developed
products that offer very little value for customers
○ Downsizing: Exiting markets, reducing product portfolios, or closing certain
businesses or store or plant locations