Examlex
A significant disadvantage for credit unions in competing with commercial banks is the severe restriction in the variety of products and services that they can offer.
Market Penetration
The extent to which a product or service is recognized and used by customers in a particular market.
Diversification
A strategy in finance and business development that involves entering into a variety of markets or developing a range of products to minimize risks.
Product Development
The process of creating, designing, and bringing a new product to market.
Market Development
Market development is a strategic effort to expand into new markets or segments, aiming to increase the customer base for a product or service.
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