The marketing strategy to sell existing products to new markets is referred to as _________.

Question

Quizplus · Accepted Answer

Market development is the marketing strategy used to sell existing products to new markets. This involves finding new markets for the already existing products, such as new geographic areas or new demographic groups. This strategy typically involves heavy market research and targeting. Market penetration (A) involves increasing market share within existing markets, market infiltration (B) is not a common marketing term, and market diversification (D) involves developing new products for new markets. Market capitalization (E) is a financial term unrelated to marketing strategy.

The Marketing Strategy to Sell Existing Products to New Markets