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Market Development is a popular growth strategy that comprises of different steps to develop a new segment of market for any service or product. It targets prospective leads and non-buying consumers. This can be achieved by exploring a new geographic market, developing new distribution channels, trying a different pricing, changing the product's dimensions, and so on. Since it can bring a rapid change in a firm's business, well-researched and stepwise tactics are implemented to get low-risk and high-value results.