marketexpansion
Market expansion refers to the strategic process by which a company seeks to grow its business by reaching new customers and increasing its sales volume. This can involve entering new geographic regions, targeting different customer segments, or introducing new products or services to existing markets. The primary goal is to unlock new revenue streams and enhance overall business growth and profitability.
There are several common strategies for market expansion. Geographic expansion involves moving into new cities, states,
Companies often undertake market expansion to mitigate risks associated with relying too heavily on a single