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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
Opinion leader, Positioning, Customer service, Niche marketing, Segment, Brand management , Field marketing, Syndicate groups, Marketing communications, Greying, leisured, affluent, middle-aged (GLAM), Marketing strategy, Mission statement, Corporate fact sheet, SWOT analysis, Franchising,
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