Market development is an adaptive strategy that an organizational unit or division can use to enter new markets with present products or services.

Question

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Market development involves expanding into new markets with existing products or services. This can involve entering new geographic locations, targeting new demographic segments or customer groups, or finding new distribution channels. It is an adaptive strategy because it involves responding to changing market conditions and customer needs, and may require adjustments to the organization's marketing mix (product, price, promotion, and place).

Market Development Is an Adaptive Strategy That an Organizational Unit