Examlex
Both managers and organizations must strive to exceed customer needs.
Product Development
Product development is the complete process of bringing a new product to market, encompassing idea generation, concept testing, design, engineering, production, and marketing.
Market Development
Market development is a growth strategy where a business seeks to sell its existing products into new markets to attract additional customers.
Diversification
The process of a business enlarging or varying its range of products or field of operation to reduce risk and increase profit.
Market Penetration
Strategies aimed at increasing the market share of a product or service within existing markets.
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