Question

If demand for a firm’s product grows, the firm will need to grow tj maintain market share. The two objectives of growth strategy is to_________demand and____________production costs.

Answer 1

The two objectives of a growth strategy are to increase demand and reduce production costs.

Step-by-step explanation:

The two objectives of a growth strategy, when demand for a firm's product grows, are to increase demand and reduce production costs.

Increasing demand involves attracting more customers and increasing the quantity of products sold. This can be achieved through strategies such as marketing campaigns, expanding market reach, and improving product quality.

Reducing production costs involves finding ways to produce goods or provide services more efficiently, such as streamlining operations, optimizing supply chains, and investing in technology.