Google is a company that needs no introduction. From its humble beginnings as a search engine startup, it has grown into a global tech giant with over $1 trillion market value. One key factor in its success has been its use of intensive growth strategies. What are they? Let’s explore them through the lens of Google and other examples.
🔝 Top 6 Examples of Intensive Growth Strategies
- Toyota Motor Corporation Analysis
- China’s Economic Growth
- Al Ain Water: Growth Strategies
- Gucci: SWOT Analysis, BCG Matrix and Intensive Growth Strategies
- Alphabet Inc. (GOOGLE) Strategic Analysis
- Google’s Corporate and Business Level Strategies
🤔 What Is Intensive Growth Strategy: Definition
Intensive growth is the ability to grow faster in a market, increasing a business’s financial standing. Consequently, intensive growth strategies are business plans that companies use to increase their market share and performance.
What Are the Advantages of Intensive Strategy?
An intensive growth strategy has substantial advantages:
- It helps gain a competitive edge.
- Growth happens naturally and is easier to handle.
- It allows using resources more efficiently.
- It only requires minor changes at the levels of organization and management.
What Are the 4 Growth Strategies?
There are four main growth strategies that companies use:
🌱 Intensive Growth Strategy: How to Develop
Every company will have a growth strategy unique to them, but they all follow the same guidelines:
- Creating Goals.
Measurable goals emphasizing specific data are essential to an intensive growth strategy. A new company might aim to increase its customer base by 20% in three months. - Setting Achievable Timelines.
Intensive growth strategies aim to grow within smaller timelines, so the companies’ goals should reflect this. Goals should be achievable in 1-3 months. - Doing Market Research.
It is essential to gain insight and collect data on the potential customers and the competition to make better decisions and prepare an accurate risk assessment. - Using Forecasting Model.
The forecasting model shows the trajectory of the business. A company uses it to track targets and communicate opportunities and end goals to other teams. - Taking Action.
The last stage includes identifying methods to help a company reach its goals, assessing them, and acting upon them.
👔 Best Examples of Intensive Growth Strategies
- Facebook is one of the many great examples of intensive growth strategies. Despite starting small, it became a popular social media platform. Facebook used market penetration to expand the business from university students to the broader public.
- Tinder is a popular dating app. They physically went out to individuals in college campuses to encourage them to sign up. The app’s popularity grew at a rapid pace.
- Google‘s product development strategy implementation lead to the creation of AdWords. This new marketing product complemented their existing service bringing booming revenue.
- Amazon is an example of diversification. Starting with books, they offered a wide selection online to bring new customers. This model is used repeatedly by Amazon with each new product, increasing their revenue.
- Air BNB combined new professional services with their online service to gain the interest of new clients. This strategy increased their client base from 50,000 to 550,000 over the span of three years.
Other examples of companies with great intensive growth strategies include:
- AstraZeneca
- Coca-Cola
- Disney
Now you know that intensive growth strategies are an important aspect of business development and success. By focusing on internal growth through product development, market penetration, market development, and diversification, companies can increase their market share, revenue, and profitability. Have fun exploring it in your case study!