economics
3.2
Internal growth strategies refer to the growth within the organization by using internal resources. It focuses on developing new products, increasing efficiency, hiring the right people and better marketing.
Should Vodacom want to expand into Africa to sustain profitability it can use its can consider its internal growth Vodacom can now then focus on what it already had this includes the quality it gives to their customers this including its latest development of LTE which is fourth generation network 4G.
Expansion
Raising the market share, sales revenue and profit of the present product or services.
Market penetration
Selling existing products to existing markets. To capture the market Vodacom needs to focus on its mission statement which is providing its customers with good coverage network which comes in GPRS, 2G, EDGE,3G AND LTE, Vodacom is still improving on its network coverage with an investment of R 120 000 000 and a year technological advancement and an additional R 2.5 mil for its skills development. In return Vodacom can retain its existing customers and at the same time attract more customers that require the best network coverage like LTE that was developed by Vodacom before its competitors giving it much more competitive advantage.
Market development
Extending existing products to a new market. Vodacom aims at reaching new customer segments, wants to increase sales by capturing new market area. Vodacom is currently the giant mobile providers in South Africa at the moment they are a growing mobile industry which is owned by Britain Vodafone, they deciding to attract more customers outside Britian and South Africa, would need a market strategy from the marketing research, and the initial investment it needs to invest this also including the politics of different countries in Africa.
Product development
Developing new products for existing markets or new markets, making some modifications in the existing product to give value to
Internal growth strategies refer to the growth within the organization by using internal resources. It focuses on developing new products, increasing efficiency, hiring the right people and better marketing.
Should Vodacom want to expand into Africa to sustain profitability it can use its can consider its internal growth Vodacom can now then focus on what it already had this includes the quality it gives to their customers this including its latest development of LTE which is fourth generation network 4G.
Expansion
Raising the market share, sales revenue and profit of the present product or services.
Market penetration
Selling existing products to existing markets. To capture the market Vodacom needs to focus on its mission statement which is providing its customers with good coverage network which comes in GPRS, 2G, EDGE,3G AND LTE, Vodacom is still improving on its network coverage with an investment of R 120 000 000 and a year technological advancement and an additional R 2.5 mil for its skills development. In return Vodacom can retain its existing customers and at the same time attract more customers that require the best network coverage like LTE that was developed by Vodacom before its competitors giving it much more competitive advantage.
Market development
Extending existing products to a new market. Vodacom aims at reaching new customer segments, wants to increase sales by capturing new market area. Vodacom is currently the giant mobile providers in South Africa at the moment they are a growing mobile industry which is owned by Britain Vodafone, they deciding to attract more customers outside Britian and South Africa, would need a market strategy from the marketing research, and the initial investment it needs to invest this also including the politics of different countries in Africa.
Product development
Developing new products for existing markets or new markets, making some modifications in the existing product to give value to