market development

USAGE SUMMARY

'market development' is correct and usable in written English.
You can use it to refer to any efforts to increase the marketability of a certain product or service. For example: "Our company has allocated significant resources to market development in order to increase our customer base."

✓ Grammatically correct

News & Media

Science

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

60 human-written examples

Good policy strikes a balance between developer-friendly market development and customer costs.

Forbes

senior manager of market development at Gear4.

The New York Times

During the GFC, responding firms concentrated more on foreign market development than on domestic market development.

Journal of Forest Economics

METS--Named Sandra Van Meek director of market development.

The New York Times

"It does not reject the mechanisms for market development.

The New York Times

MLB INTERNATIONAL--Named Jim Small vice president, market development.

The New York Times - Sports

For the Milken Institute, capital market development is key.

Yale University

Investments in product innovation and market development are also vital.

Computer Aided Chemical Engineering

This case does not accommodate new market development.

Computers & Industrial Engineering

Further market development will depend on material availability at reasonable prices.

Carbon

"Where the private sector believes there is a market, development will occur," Mr. O'Keefe said.

The New York Times

Expert writing Tips

Best practice

When discussing "market development", be specific about the strategies and initiatives being implemented to avoid ambiguity. For instance, clarify whether you are referring to entering new geographic markets, developing new products for existing markets, or increasing market share within current markets.

Common error

Avoid using "market development" when you actually mean market research. Market development refers to the activities undertaken to expand the market for a product or service, whereas market research involves gathering information about consumer needs and preferences.

Linguistic Context

The phrase "market development" functions primarily as a noun phrase. It typically acts as a subject or object within a sentence, referring to the process or activities related to expanding a market for a product or service. This is consistent with how Ludwig AI understands and uses the phrase, as evidenced by the examples provided.

Expression frequency: Very common

Frequent in

News & Media

45%

Science

30%

Formal & Business

25%

Less common in

Academia

20%

Encyclopedias

0%

Wiki

0%

Ludwig's WRAP-UP

In summary, "market development" is a frequently used noun phrase that refers to the strategies and activities aimed at expanding the market for a product or service. Ludwig AI confirms that the phrase is grammatically correct and appropriate for use in professional, academic, and news-related contexts. While "market development" is a common term, it's important to distinguish it from other related concepts like "market penetration" or market research. It is predominantly found in News & Media, Scientific and Formal & Business sources, reflecting its importance in strategic business discussions and economic analysis.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

market creation

Refers specifically to the creation of a novel market.

market expansion

Implies extending the reach of existing markets, rather than creating new ones.

market cultivation

Suggests a gradual and nurturing approach to developing a market.

business growth

Focuses more broadly on the expansion of a business, not specifically tied to market activities.

strategic market initiatives

Emphasizes the planned and deliberate actions taken to improve a market position.

new market penetration

Highlights the act of entering a new market, emphasizing initial strategies.

customer base expansion

Focuses specifically on increasing the number of customers.

brand building

Highlights establishing and growing a recognizable brand

product commercialization

Centers on the process of introducing a product to the market.

sales growth

Specifically refers to the increase in sales volume.

FAQs

What does "market development" mean in business?

In business, "market development" refers to strategies and activities undertaken to expand the market for a company's products or services. This can involve entering new geographic regions, targeting new customer segments, or developing new applications for existing products.

How does "market development" differ from "market penetration"?

"Market development" involves entering new markets with existing products, while "market penetration" focuses on increasing sales of existing products in existing markets through strategies like price adjustments or increased advertising.

What are some strategies for successful "market development"?

Effective "market development" strategies include thorough market research, adapting products to local needs, building strong distribution channels, and implementing targeted marketing campaigns. Partnerships and strategic alliances can also play a crucial role.

What are the key challenges in "market development"?

Common challenges in "market development" include understanding new customer preferences, adapting to different regulatory environments, overcoming cultural barriers, and competing with established local players. Resource allocation and risk management are also critical considerations.