Types of business strategies

Small business use number of business strategies, which is depending on a business situation. Business strategies applied on a different key position. Four types of business strategies are including growth strategy, production strategy, and price strategy acquiring strategy.

Growth strategy

A growth strategy include new product or adding new feature in an existing product. Some time small company increases his product capacity to meet the market requirement.  For example, cell phone companies introduce new feature or discover new technology almost every month to made user interest. A small company adopts new growth strategy to market requirement or fined new market.

Product Differentiation Strategy

Small companies use a product strategy to meet quality or store requirement.  A small company set new completions and engendering ideas. Company use different strategy to set the key completion's.

Price-Skimming Strategy

                    This strategy involves price of a product and introduction phases of a product. A small company uses this strategy to recover price difficulties and advertising cost. For example, a small company introduces a new technology. A company introduces a solar panel first time because the company is selling a product first time, customer pay high amount to purchase this solar panel.

 

Acquisition Strategy

 

A small company has extra capital to use acquisition strategy to gain new market completive advantage. This strategy mean purchasing a other small company to compete market line of a company product.