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Essay

Strategies and their Significance for Business Growth and the Success of a New Business

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Issue:

Business

 

Written by:

Daphne R

 

Date added:

April 9, 2013

 

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Grade:

A

 

No of pages / words:

10 / 2795

 

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9619 times

 

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Essay content:

The success or failure of a venture is dependent upon the ability of the entrepreneur to "identify emerging attractive markets and to seize on unmet, unserved customer needs." Different Growth Stages in Venture Management There are different stages of venture growth, which requires different approaches to management of the venture...
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The following are four stages with the accompanying factors and elements applicable to that stage of growth as described by Philip Kotler in his Marketing Management, 12th edition book: Start Up: During this stage the product, market niche and business concept is defined. Growth: During this stage it is hoped that the business will capture a market share, launch differentiated products, gain repeat customers, expand channels and avenues, expand the management team and train employees and start inventing the second stage of growth for the venture...
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