HubSpot: How to Build a Market Development Strategy [Free Planning Templates]

HubSpot just released a insightful article:

Your business is getting by just fine – but still, the questions remain: Could you be selling more? Is there an opportunity to increase market share? Is there any way you could further your product diversification efforts? Companies hoping to increase revenue can do so in many ways — such as increasing advertising budgets, expanding sales teams, and investing in product development. However, one often overlooked way to strengthen your gross sales is a purposeful and expertly executed market development strategy. In this article, we’ll explain what market development is and how you can employ it to grow your business. Then, we’ll take a look at some examples of market development strategies that work for top businesses today. Image Source Each category rests upon two axes — one for market and one for risk. A company can expand its efforts into new or existing markets. Each poses more or less

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