Which market entry strategy involves selling existing products to new international markets?

The correct strategy for selling existing products to new international markets is market development. This approach focuses on expanding a company’s reach by entering new geographical areas or segments with products that are already established in other markets. It aims to increase the customer base and sales volume by identifying and capitalizing on opportunities in different regions.

Market development is particularly effective for businesses looking to leverage their existing product lines without the resources required for creating new offerings. By targeting international markets, a company can take advantage of untapped demand, build brand awareness in new territories, and ultimately drive growth.

In contrast, diversification involves introducing new products to new markets, which is a more complex strategy that often entails significant investment and risk. Market penetration focuses on increasing sales of existing products in the current market, while product development centers on creating new products for the existing market. These strategies do not align with the goal of selling existing products to new international markets as effectively as market development does.