Market Expansion

Market expansion refers to the strategies businesses use to increase their reach and customer base. This can involve entering new geographical areas, targeting different demographics, or introducing new products or services. The goal is to boost sales and profits by tapping into untapped markets or increasing the consumption of existing products. Companies may use various approaches like marketing campaigns, partnerships, or adapting their offerings to meet the needs of new customers. Effective market expansion can help a business grow sustainably and enhance its competitive position in the industry.