Market development
- Created by: Maria-Elianna Constantinou
- Created on: 11-06-13 13:15
View mindmap
- Marketing Strategies - Market Development
- involves a business targeting its existing product range at potential consumers in a new market
- the product remains the same, but it is marketed to someone else
- new markets could be overseas or possibly a different segment within a domestic market
- it is classified as medium risk because the product or products are unchanged and the business managers are presumably familiar with their strengths and weaknesses
- it also avoids the need foir developing new products which is costly and time consuming
- products ,might not be accepted in the market or need expensive modifications
Comments
No comments have yet been made