In terms of the product-market matrix, market development is
A) developing or acquiring new products for new markets
B) increasing the usage rate of current customers and attracting competitors' customers to sell more products without changing the product
C) developing new markets for the company's existing products or creating new product uses
D) developing new products to appeal to the company's existing markets

Question

Quizplus · Accepted Answer

Market development involves expanding into new markets with existing products or finding new uses for the current products, as described in option C.

In Terms of the Product-Market Matrix, Market Development Is