Respuesta :
Home depot expanded its operations into Canada by offering the same products to a new market. home depot implemented a "Market development" strategy.
What is Market development?
Market development is a commercial organisation in which a company seeks out new groups of buyers to serve as potential clients for its present products and services.
Some key features regarding the market development are-
- In other words, marketing strategy is to develop into previously unexplored markets.
- These possible client groups could have already been served by competition or may not be marketed to anyone at this time.
- Market development occurs in two stages.
- It all begins with market research. To decide which market segments is worth pursuing, you must conduct segmentation analysis.
- A segment is merely a subset of a larger market.
- A market can be segmented along demographic, regional, psychographic (values and lifestyles), & product-benefit lines.
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