Market development strategy aims to:

• A. Main aim is to increase market share with existing products within existing markets
• B. Aims to increase sales by taking the present product to new markets
• C. Focuses on developing new products for existing markets
• D. New products, new markets

Answer: (C)

This item tests growth strategies from the Ansoff Matrix. Market development means selling the same products in new markets to drive growth. It involves expanding into new geographic areas or new customer segments where the product isn’t currently sold, using existing offerings to reach more customers. This differs from developing new products for existing markets (product development), which would focus on creating and offering new products to current customers. It also differs from increasing sales with existing products in existing markets (market penetration) and from pursuing both new products and new markets (diversification). The best description is taking the present product to a new market.