A company pursuing a market development strategy can use the brand name it has developed in one market segment to locate new market segments in which to compete.

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A company can use its established brand name to enter new market segments through market development strategy. This requires the company to identify new customer groups or geographical areas where their brand can offer value and target them with tailored marketing campaigns that align with their specific needs and preferences. By leveraging its existing brand equity, the company can achieve faster market penetration and establish a foothold in new markets with reduced risk and cost compared to starting from scratch.

A Company Pursuing a Market Development Strategy Can Use the Brand