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IoT Disrupts Traditional Business Models

The internet of Things changes everything. Existing businesses will be disrupted and their business models will be changed forever.

The Growth Strategy

Strategy aimed at winning larger market share, even at the expense of short-term earnings. Four broad growth strategies are diversification, product development, market penetration, and market development.

In general, there are two categories of growth, and these each contain their own strategies:

  1. Inorganic growth is growth through a partnership. This typically consists of a merger where two businesses come together to form one company; or an acquisition where another company buys most of another company.
  1. Organic growth is a growth strategy where a company works to increase their number of customers, revenue, and overall business development.

Organic growth is made up of four growth strategies:

  • Market penetration is increasing marketing efforts with current products or services in the market that they are already operating in.
  • Market development is expanding into a new market using their current products or services.
  • Product development is adding a new product or service to what they are already offering.
  • Diversification is entering a new market with a new product or service.

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