Business Plan Project Workbook

Chapter 12: Growth Plan

Key Terms


market penetration  A growth strategy that involves selling more of a product or service to the same market
(See page(s) 194)
rebate  An amount of money given back to the customer after the sale of a product
(See page(s) 194)
product development  A growth strategy that involves developing new products for a company’s existing market
(See page(s) 194)
market development  A growth strategy that involves selling existing products to new markets
(See page(s) 194)
diversification  A growth strategy that involves selling new products to new markets
(See page(s) 194)
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