Market development strategy employs the existing marketing mix and focuses the firm's efforts on existing customers.

Name: Market development strategy employs the existing marketing mix and focuses the firm's efforts on existing customers.
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Question

Quizplus · Accepted Answer

Market development strategy focuses on finding and attracting new customers, rather than solely relying on existing ones. It may involve modifying the existing marketing mix to meet the needs of a new market segment.

Market Development Strategy Employs the Existing Marketing Mix and Focuses