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Market Development Strategy Matrix

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Publish time:09-20-2022
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Selling your existing products into new markets is part of this Market Development Strategy Matrix. This strategy can be implemented in a variety of ways. Matrix of Market Development Strategy Is a strategic framework that assists businesses in determining which of four strategic directions they must take to grow their business successfully. It is most commonly employed during the strategy development stage of the marketing planning process. Management determines the most likely strategies for adoption based on the matrix. They then decide which methods to employ in their marketing efforts. To reach different markets, they may use more than one strategy.
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