Improvement and market expansion refers to the processes by which a business enhances its products or services while simultaneously seeking to reach new markets or increase its presence in existing ones. This dual approach is crucial for businesses aiming to stay competitive, as improvements can lead to better customer satisfaction and loyalty, while market expansion opens up opportunities for increased sales and revenue streams. These strategies are often interlinked, as successful product improvements can make entry into new markets more viable and attractive.
congrats on reading the definition of Improvement and Market Expansion. now let's actually learn it.