Definitions for market development
mar·ket de·vel·op·ment

WikipediaRate this definition:0.0 / 0 votes

1. Market development

   Market development is a growth strategy that identifies and develops new market segments for current products. A development strategy targets non-buying customers in currently targeted segments. It also targets new customers in new segments. A market development strategy entails expanding the potential market through new users or new uses. New users can be defined as new geographic segments, new demographic segments, new institutional segments or new psychographic segments. Another way is to expand sales through new uses for the product. For discontinuous innovations, which are those that impose a change of behavior, new learning, or a new process on the buyer or end user, a focused market development strategy is needed to bridge the gap between the early market and the mainstream. A marketing manager has to think about the following questions before implementing a market development strategy: Is it profitable? Will it require the introduction of new or modified products? Is the customer and channel well enough researched and understood?

WikidataRate this definition:5.0 / 1 vote

1. Market development

   A market development strategy targets non-buying customers in currently targeted segments. It also targets new customers in new segments. Market development strategy entails expanding the potential market through new users or new uses. New users can be defined as: new geographic segments, new demographic segments, new institutional segments or new psychographic segments. Another way is to expand sales through new uses for the product. A marketing manager has to think about the following questions before implementing a market development strategy: Is it profitable? Will it require the introduction of new or modified products? Is the customer and channel well enough researched and understood? The marketing manager uses these four groups to give more focus to the market segment decision: existing customers, competitor customers, non-buying in current segments, new segments.

How to pronounce market development?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say market development in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of market development in Chaldean Numerology is: 2

2. Pythagorean Numerology

   The numerical value of market development in Pythagorean Numerology is: 1

Examples of market development in a Sentence

1. Wang Baomin:

   Companies that get subsidies through connections are cruising without feeling any competition or fully grasping the technology, i'm afraid robots will walk down the path of China's solar industry, with its market development distorted.

2. Chief Executive Henrik Ehrnrooth:

   If you look at a Tier 1 city the market development continues to be positive. If you on the other hand look at some of the lower tier cities we see a clearly more challenging situation and we can see that our customers have challenges in getting financing and also inventory levels are at quite a high level in some of the cities, the market remains uncertain and in some places very challenging.

3. Chief Executive Pierre-Pascal Urbon:

   We have effectively lowered fixed costs and increased our financial and operational flexibility with extensive measures. We can therefore better respond to the volatile market development.

References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Market_Development
2. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=market development