Expansion

Expansion refers to the process by which a company grows its operations, increases its market reach, and grows its profitability. Expansion can come in multiple forms, including opening new locations, launching new products or services, entering new markets, acquiring other businesses, etc.

Effective business expansion involves careful planning, market research, and strategic decision-making to ensure sustainable growth and long-term success. Often, expansion also involves the growth of reach for a company within its native market but towards broader audiences.

Obviously, the purpose of the expansion is to increase sales of existing products or services in new markets through marketing efforts, localization, adaptation, and a relevant pricing strategy. Such a concept is closely related to internationalization, which includes adapting a product for its use for an international user base.

Note: This is not to be confused with internationalization (i18n) as the technical process of preparing software for the localization into multiple locales.