The marketing strategy that dunkin’ donuts would be using if it decided to begin selling its doughnuts in Puerto Rico for the first time is marketing development.
When a corporation develops its existing market as opposed to seeking out new markets, it is market development.
In an effort to boost sales, the corporation seeks out new customers to introduce the product to a different consumer group.
A two-step method called "market development" can help you find undiscovered markets.
A corporation first does market research, performing a segmentation analysis and shortlisting market segments that are worthwhile pursuing.
It is an effort to use the current good or service to draw in new clients.
The objective is to increase the audience or tap into a new market or demographic.
Hence, marketing development is the answer.
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