Question: What is the difference between market penetration and market development? market development implies extensions to new markets while market penetration implies an extensive advertising efforts

What is the difference between market penetration and market development?

market development implies extensions to new markets while market penetration implies an extensive advertising efforts to attain additional market share

In market development a company increases market share to serve existing markets while market penetration involves gaining market share using existing products by increasing marketing efforts

New Markets are developed to serve existing markets while market penetration only focuses on the marketing aspects to gain market share

A company keeps gaining market share against rivals by penetrating into new niches of market while in market development a company opts to compete in other industries

What is the difference between market penetration

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