market development
What market development means in Business A-Level, as defined for AQA.
Definitions of market development
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Reference: AQA
In Ansoff's matrix this is the middle risk box, because the product is proven and only the customer is new.
Taking the current range into a new segment or country.
Topics that use market development
- Assessing globalisation and internationalisation (AQA A-Level)
- Strategic direction: choosing which markets to compete in and what products to offer (AQA A-Level)
Related terms
- Ansoff matrix
- competitive rivalry
- contribution per unit
- corporate objectives
- cultural distance
- diversification
- Economies of scale
- emerging economy
Using market development in the exam
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