2. Prepared By
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Manu Melwin Joy
Assistant Professor
Ilahia School of Management Studies
Kerala, India.
Phone – 9744551114
Mail – manu_melwinjoy@yahoo.com
5. Market Development
• Market development
involves taking existing
products and trying to
sell them within new
markets.
6. Examples of Market Development
• One way to reach a new market is
to enter a new retail channel.
Starbucks has stepped beyond
selling coffee beans only in its
stores and now sells beans in
grocery stores. This enables
Starbucks to reach consumers that
do not visit its coffeehouses.
7. Examples of Market Development
• Entering new geographic areas is another
way to pursue market development.
Philadelphia-based Tasty Baking Company
has sold its Tastykake snack cakes since
1914 within Pennsylvania and adjoining
states. Now it is extensively distributing
Tastykake’s products within the
southeastern United States. Displaced
Pennsylvanians in the south rejoiced.