Market Development Involves

question 17

Multiple Choice

Market development involves:

• A) creating new products to serve existing markets.
• B) creating new products and trying to sell them within new markets.
• C) integrating existing products to serve existing markets better.
• D) taking existing products and trying to sell them within new markets.
• E) trying to gain additional share of a firm's existing markets using existing products.

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Definitions:

Implied Authority

Authority that is not explicitly stated but is assumed to be granted due to the nature of a job or position.

Written Agreement

A document that outlines the terms and conditions agreed upon by parties, serving as a formal contract.

Partners

Individuals who share ownership of a business and its operations, including sharing the profits and liabilities of the business.

Pool and Sauna

Facilities often found in hotels, gyms, or residential complexes, consisting of a swimming pool for recreation or exercise and a sauna room for dry or wet heat sessions, promoting relaxation and health.