Market Development: Examples, Definition & Process


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question 1 of 3

Which one of the following is the best explanation of market development?

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1. What's the first step in the market development process?

2. What's the best explanation of a market segment?

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About This Quiz & Worksheet

This quiz and worksheet combo can help you assess your understanding of market development and its benefits. In order to pass the quiz, you will need to know the steps involved in the market development process.

Quiz & Worksheet

This quiz and worksheet can help you review:

  • Steps involved in the market development process
  • Definition of market segment
  • Demographic segment
  • Pricing structure for breaking into a competitive market

Skills Practiced

This quiz and worksheet combo can help you practice these skills:

  • Problem solving - use acquired knowledge to solve a market practice problem
  • Interpreting information - verify that you can read information regarding market segment and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about the market development process

Additional Learning

For additional information on this process, review the lesson called Market Development: Examples, Definition & Process. This lesson covers the following objectives:

  • Define market development
  • Learn about the steps involved in the market development process
  • Determine how to penetrate a market
  • Examine the benefits of market research