Question

Carrigan has just launched his new business. he has great plans for expansion later but for now, the most appropriate and effective product strategy to use in this stage of his small business is the

Answer 1

New product strategy. This is a rather risky move to make but many small businesses do this when it fits in with their existing set up including distribution and sales. The key thing with this strategy is that he needs to know his market and needs to understand his current set up for creating, distributing, and the sales of his current products and how a new product will fit into this and is there a product that potentially fit better.