- A.A 3x3 portfolio matrix plotting business units on industry attractiveness vs business unit strength, refining the BCG matrix with multiple weighted variables.
- B.Selling existing products into new markets — new geographies, new segments, or new channels. ✓
- C.Offering uniquely valued attributes — quality, brand, design, service — that allow premium pricing and customer loyalty.
- D.Selling existing products into new markets — new geographies, new segments, or new channels.
Market Development Strategy is selling existing products into new markets — new geographies, new segments, or new channels. The other options describe related but distinct concepts in Strategic Frameworks — see the deep-dive guide for the full distinction.
How to think about questions like this
Existing product reduces development risk; new market provides growth runway. Questions like this test whether you can distinguish Market Development Strategy from neighboring concepts. The most common trap is choosing a closely-related concept that sounds similar but applies in a different context.
When you see a definition question on an exam, do two things: (1) translate the question into your own words, then (2) generate the answer in your own words before reading the options. This avoids the cognitive bias of recognizing a familiar phrase as correct just because it is familiar.