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Briefly Describe the List of Items That Managers Undertake to Formulate

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Essay

Briefly describe the list of items that managers undertake to formulate strategies.


Definitions:

Market Development

A growth strategy that involves the introduction of existing products into new markets to increase sales and market share.

Diversification

A strategy that involves entering into new markets or investing in different types of assets to reduce risk and increase potential returns.

Market Development

A growth strategy where a business seeks to sell its existing products into new markets to increase its customer base.

Product Development

The process of bringing a new product or service from concept to market, including design, creation, and launch phases.

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