Growth Strategies and their application

There are four different types of growth strategies that a business can employ to expand its operations. They are:
Market Penetration: In market penetration, the business sells more of its existing products to its existing customers. For example, in Cavalry, we have two different hair cutting shops of a same person. He did this to increase his sales in this area.
Market Development: In this type of growth strategy, the business sells its existing products to new market segments. For example, the example which i gave above, that same person opened hair cutting shops in Gulberg which is a new geographifical segment.
Product Development: In this type of growth, the business offers new or modified products to the existing market segments. For example, Gillette created a new product Mach 3 Turbo after Mach 3.
Diversification: When a business acquires or starts up a new business which is entirely different from its original business. For example, Gillette also sells deodarants and it also owns the Duracells product.
So, these are the different growth strategies and their applications.