product name-Elianto (cosmetics)

c. Market development strategy. (Total: 5 Marks)

Market development can be accomplished either by targeting:

i. Different customer segments.

ii. New areas, regions of the country, or new foreign markets. For this assignment, the company needs to expand its market by venturing into a new foreign market (new country). Thus, please explain:

i. New foreign country: Which country will the company be selling its existing product? (1 Mark)

ii. Explain the trends and facts that justify your reasons to introduce the existing product to this new foreign country.