Purplebricks, the British online estate agent pioneering a new business model by charging housesellers a fixed fee upfront tried to pursue this strategy by entering Australia in 2016, but by 2019 had pulled out, citing 'difficult market conditions'

Question

Quizplus · Accepted Answer

Market development is the correct choice because Purplebricks attempted to grow its business by entering a new geographical market (Australia) with its existing services (online estate agency with a fixed fee model), which aligns with the definition of market development strategy.

Purplebricks, the British Online Estate Agent Pioneering a New Business