The set of strategies included in intensive strategies are:
1. Product development
2. Market penetration
3. Market development
Product development deals with increasing the sales as well as revenues by enhancing the quality of existing products. The quality of existing products can be easily enhanced by adding different flavors in it. Market penetration deals with enhancing the share of market by effective and innovative strategies in order to make the present product more effective and attractive. Market development deals with adding products in different geographic areas. All these above mentioned strategies deals with increasing the revenues as well as sales by adding value to the existing products and by enhancing the efficiency.
The aim of intensive strategies is to broaden the market share and to increase the profit by making the existing products more effective and by introducing new and various sets of products in order to increase the market share too. Along with this, Ansoff’s intensive growth strategy also aims to broaden the product’s value and to make it innovative in order to gain maximum potential outcomes in the long run. The target of all the organizations is to make their existing products more innovative as well as efficient in order to cater the needs as well as demands of the consumers. This is the aim and to fulfill this, various set of strategies are applied by all the organizations. Intensive strategies play an important role in increasing the revenue as well as sales of any organization. Marketers try to adopt these strategies and then apply them by effective ways in order to gain maximum outcomes.
Developing new market is a challenging task that is accomplished by marketers when they follow various strategies by innovative ways. The best thing to have development in your product is to make it different from the competitors. If you effectively make your product different from your competitors, then the success is yours. Enhancement, innovation, effectiveness and efficiency are some of the basic as well as important tools that should be considered when you are developing or re engineering your product. These elements will make your product or service different from others and will be the best one to cater the needs and demands of your consumers. Fulfilling needs and demands of your consumers is the foremost duty and it can only be accomplished by providing something unique and different to them.
John Prior Lewis, Valeriana Kallab (1986), "Development strategies reconsidered", Transaction Publishers, pg 190