Which of the following best describes a growth strategy of market development?

Name: Which of the following best describes a growth strategy of market development?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Market development involves selling existing products to new markets. This strategy seeks to expand the customer base by identifying new geographic regions, demographic groups or market segments to sell the existing products. The aim is to increase revenue and profits by introducing existing products to new markets.

Which of the Following Best Describes a Growth Strategy of Market