Market development: introducing present products or services into a new geographic area. We want our company to keep growing all around the nations, so we would need to think in penetrating specific new regions.

 

Market penetration: seeking increased market share for present products or services in present markets through greater marketing efforts. We have to make a very huge promotion of our services, since we are a different type of hair saloon; we need to show how our services are going to be.

 

Product Development: seeking increased sales by improving present products or services or developing new ones. We are making a different type of haircuts, so we always need to be improving the quality of our service, giving all the time a new experience to the costumer.

 

Related Diversification: Adding new but related products or services. In our saloon, we are going to need all type of entertainment, so we do need to have related products or services for the kids.