Economic for Business: Strategies for Expansion, Macroeconomic Factors, Fiscal and Monetary Policies, and International Market Policies

Economic for Business

Table of Contents
QUESTION 1 ..................................................................................................................................1
QUESTION 2..................................................................................................
QUESTION 3 .................................................................................................
QUESTION 4............................................................................................//////

QUESTION 1
There are distinct types of the courses of the actions which are required to be taken into the
consideration by the retail store in respect to expand the operational practices in effective
manner. For the purpose of being successful it is crucial for the firm to give emphasis on
evaluating the distinct types of the growth strategies which includes Ansoff matrix this basically
comprises the four type of the strategies that involves market penetration, product &
development and diversification. Market penetration is related with having the ability to increase
the sales of existing products into an existing market. Market development is related with
focusing on selling of existing products into new market the product development is related with
having proper approach to introduce the new products into existing market. Diversification is
concerned with selling new products into the new market. On the basis of this it can be
articulated that from these four courses to get the corrective strategy in turn attaining the reliable
practice to have higher performance in respect to expand into the market.
From the assessment, it can be interpreted that specified organization should concentrate
on adopting such technology which can allow to have correct level of actions in turn deriving
relevant processes for meeting the organizational objectives such as higher profitability,
effective level of utilization of resources, etc. gaining appropriate performance. Market
penetration is one of successful strategy that helps in deriving the concise pattern of working by
increase the sales of the goods in new market through concentrating on certain crucial measures.
This can be done by the firm through application the actions like inclining marketing efforts to
streamline distribution processes. In addition to this, it decreases the prices to attract new
customers within the retail market segment (Market Penetration, 2022). Acquiring a competitor
in same market so that attaining corrective level of results to meet the objective of having the
ability to get greater performance. On the basis of this it can be articulated that firm with help of
market penetration can get assistance in expanding its operational practices in market. This leads
the firm toward success by ensuring that reliable utilization of resources to have corrective
measures so that effective pattern of growth & development on market can be derived. This
allows to meet the objective of having effective competitiveness to get reliable financial
position in respect new market.
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