What is Market development?

Christopher Calcano: It is an area of business. Most often a specific area of commerce such as a housing market or retail market. It can also reference a specific type of customer such as with a target market. The development side of the definition deals with the lifespan of the market. Just as humans have life spans so do markets they start out young and develop and mature over time. The housing market could show market development. A contractor makes a bid on a house in the infancy stages and then builds the house. A realator places a value on the house and a customer makes a bid based on a realator value and personal capital. The house is bought and this completes one cycle.The retail market, such as Wal-Mart can be tracked chronologically to watch the envestment and management styles take Wal-Mart from a regional store in Arkansas to a world wide conglomerate.Hope this helps...Show more