Logo Launch IT (Fast)
GLOSSARY

Product-market expansion

“

Product-market expansion refers to the strategy of introducing a product to new markets or expanding the offerings to meet the needs of existing markets.

What is Product-Market Expansion?

Product-market expansion involves introducing a product to new markets or expanding existing offerings to reach more customers.

Why It Matters

Expanding your product into new markets can help your startup grow revenue and reach a broader audience.

Examples

  • Launching a software product in a new country
  • Introducing a new feature to target a different customer segment

Related Concepts

Product-market fit, market segmentation, diversification

Share this term

Browse All Terms

Related Terms

A/B testing

A

A/B testing is a method where two versions (A and B) of a webpage or app are compared to see which performs better in achieving a specific goal, helping you make data-driven decisions.

API (Application Programming Interface)

A

An API (Application Programming Interface) is a set of rules and protocols that allows different software applications to communicate with each other.

ARPU (Average Revenue Per User)

A

ARPU (Average Revenue Per User) is a key metric that calculates the average revenue generated by each user of a product or service over a specific period.

ARR (Annual Recurring Revenue)

A

Annual Recurring Revenue (ARR) is the predictable, annual revenue generated from subscription-based products or services.

Affiliate marketing

A

Affiliate marketing is a performance-based marketing strategy where a company rewards affiliates for driving traffic or sales through their marketing efforts.

Agile development

A

Agile development is a software development approach that emphasizes flexibility, collaboration, and iterative improvements.