3. Market Expansion Techniques

Market expansion techniques refer to strategies businesses use to grow and reach new customers. Three common techniques include: 1. **New Markets**: Entering new geographic areas or demographics to find fresh customers. 2. **Product Diversification**: Introducing new products or variations of existing products to attract different consumer interests. 3. **Partnerships and Alliances**: Collaborating with other companies to leverage each other's strengths, resources, and customer bases for mutual growth. These methods help businesses increase their reach and revenue, ensuring they stay competitive in a changing market.