What is Market Development in Marketing?

Learn Market Development definition in marketing with explanation to study “What is Market Development”. Study market development explanation with marketing terms to review marketing course for online MBA programs.

Market Development Definition

  • Company growth by identifying and developing new market segments for current company products.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



Market Development Explanation

Realizing business sector request can help illuminate future online organizations what industry is most productive to go into. In this manner, numerous entrepreneurs should lead market request examine. Showcasing examination includes searching out investigations, information and general data about an industry or area. It frequently requires a few distinct methodologies, a sorted out strategy for gathering figures, cautious elucidation and point by point announcing.

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