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Understanding the Market — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipUnderstanding the Market1 Mark
Question
What do you mean by Market Development Strategy?
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Answer

Market development strategies refers to selling the firm's existing products to new groups of customers, i.e. exploring new markets for the existing product at national as well as at international level.

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