Distinguish Between a Market Development and a Product Development Strategy

question 89

Essay

Distinguish between a market development and a product development strategy.

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Definitions:

Unfulfilled Needs

Unfulfilled Needs refer to desires or requirements that have not been satisfied or addressed, often leading individuals or organizations to seek solutions or improvements.

Worker's Attitude

The set of outlook, perceptions, and feelings an employee holds towards their work, workplace, and its culture.

Lower-order Needs

In the context of Maslow's hierarchy, these are basic physiological and safety needs that individuals seek to fulfill before achieving higher-level needs.

ERG Theory

A motivational theory proposed by Clayton Alderfer that categorizes human needs into existence, relatedness, and growth needs.