market development

  

Definition

The expansion of the total market for a product or company by (1) entering new segments of the market, (2) converting nonusers into users, and/or (3) increasing usage per user.

Use market development in a sentence

  • You should always have a strong market development team on your side to get the most out of your product.

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  • Our market development team was the best around and really pout the customer first in their thinking and planning ideas.

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  • The market development in the developing country was increasing at an accelerating rate which meant that this expansion could be beneficial to us.

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