Healthcare Glossary

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W |

Market development

The strategy of offering existing products to potential new markets, increasing sales by developing a new customer group.

There are several techniques that can be used to create a larger market, ranging from targeting customers of rival businesses to focusing on a fresh, untapped section of the market. These practices are driven and facilitated by marketing personnel within a company or consultants hired specifically to expedite market development.

See also:
Marketing consultant
Marketing strategy
Marketing

Featured jobs

Infographics