A company that has been selling its products in Australia and New Zealand decides to expand into Asia,offering the same products as it does in Australia and New Zealand.

Question

Quizplus · Accepted Answer

Market development involves introducing existing products into new markets. In this scenario, the company is expanding into Asia, which is a new market for them, but still offering the same products as they do in Australia and New Zealand. This aligns with the definition of market development.

A Company That Has Been Selling Its Products in Australia