Market Development

Definitions

1. Growth by entering new markets or customer segments with an existing product rather than inventing a new product entirely. It is one of the classic paths in strategic expansion frameworks.

   In plain English: Growing by selling an existing product into new markets or customer groups.

   Example: "The board favored market development into Europe before launching a second major product line."

Related Terms

• Product-Led Growth
• Network Effect
• Growth Loop
• Inflection Point
• Market Expansion
• Multi-Product
• Organic Growth
• S-Curve