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Distinguish Between a Market Development and a Product Development Strategy

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Distinguish between a market development and a product development strategy.


Definitions:

IT

Information Technology, referring to the use of computers, software, and networks for the processing and distribution of data.

ERP Systems

Enterprise Resource Planning systems integrate various functions across an organization into a unified database to streamline processes and information across the organization.

TPSs

Transaction Processing Systems, computerized systems that perform and record the daily routine transactions necessary to the operation of a business.

TPSs

Computerized systems crucial for conducting and recording business transactions efficiently, specifically designed to handle user transactions and operations in real-time to ensure data integrity and processing reliability.

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