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- Disadvantages of market development strategy include123:
- Requires capital investment
- Is expensive
- Is risky
- Time-consuming
- Difficult targeting
- Finding demands is difficult
- Hard to find the right channel
- Adjustment issues in different cultures
- Biased data
- Focusing on one problem
- Risk of alienating current customers
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.The disadvantages of the market development strategy are as follows:
- Requires capital investment: Usually, expansion involves financial investment. ...
www.wallstreetmojo.com/market-development-strat…Disadvantages of Marketing Strategy
- Time Consuming Developing an effective and actionable market strategy requires significant customer market research, data, competitor analysis, KPIs, metrics, and various indicators to understand the customers and market. ...
swotandpestleanalysis.com/advantages-and-disad…Whilst there are similarities between the first two strategies, market development involves a greater degree of uncertainty, risk, and financial commitment. One of the biggest dangers of this strategy is the risk of alienating your current customers.www.free-management-ebooks.com/faqst/ansoff-0… - People also ask
Market Development Strategy - What Is It, Examples, Advantages
- Advantages
- The advantages of a market development strategy are as follows: 1. Improves product quality:Businesses look at how the product can be improved to acquire new users. …
- Disadvantages See more
Market development strategy is taking existing products and locating new markets by opening previously closed market segments. Companies are constantly seeking … See more
This article has been a guide to what is Market Development Strategy. We explain its examples, advantages, disadvantages, and how to implement it. You may also find some useful articles here – 1. Vertical Market 2. Market Entry Strategy 3. Market Analysis See more
Market development is usually a two-step process that helps tap the market’s new segments (subgroups of larger groups). The first step is to do … See more
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