The Market Development Strategy Involves Seeking New Customers by Introducing

question 79

True/False

The market development strategy involves seeking new customers by introducing existing products or services to a new market segment.

---

Definitions:

Consulting Firm

A business that provides expert advice in a particular area, such as management, education, law, or finance to organizations or individuals.

Valuable Client

A customer or client who provides significant value to a business, often through repeat business, high-volume transactions, or strategic importance.

Stranger Phase

A stage in Tuckman's team development model where team members are unfamiliar with each other, leading to uncertainty and communication apprehension.

Account Executive

A professional role focused on managing client accounts and relationships within a company, often in sales or advertising sectors.