Market development may entail which changes?

• A. New Distribution Channels
• B. Different Pricing To Attract Different Customers
• C. Introducing A Brand-New Product
• D. Merging With A Competitor

Answer: (B)

Market development means selling existing products into new markets or to new customer segments, using changes to how the product is offered to attract those new buyers. Adjusting pricing to attract different customers is a direct way to expand the customer base—different segments or regions may respond to different price points, so price differentiation helps open up new markets or attract new groups within existing markets.

Introducing a brand-new product is about product development, not market development. Merging with a competitor is a strategic move unrelated to expanding into new markets with an existing product. While new distribution channels can support market development, the option that best illustrates expanding the customer base through the marketing mix is pricing to attract different customers.