Market development entails:
A)Seeking new market segments or new applications for existing products
B)Modification of existing products to create new market segments
C)Acquisition of an organization in the same line of business
D)Forming a strategic alliance with a firm in a new business
E)Investments in resources that may increase market share in the current business

Question

Quizplus · Accepted Answer

Market development involves identifying and targeting new market segments or finding new applications for existing products. This can be done by conducting market research and analyzing customer needs and preferences. It does not involve modifying existing products, acquiring another organization, forming a strategic alliance, or investing in resources to increase market share in the current business, which are all strategies for different types of business development.

Market Development Entails