Which strategy involves introducing existing products into new markets?

The strategy that involves introducing existing products into new markets is market development. This approach focuses on expanding the reach of current products by introducing them to new customer segments or geographical locations. The goal is to increase sales by finding new audiences that may benefit from or be interested in the existing products.

Market development can involve various tactics, such as exploring different sales channels, entering international markets, or targeting a newly identified demographic. This strategy takes advantage of what the company already offers, leveraging its existing products while seeking growth in untapped markets.

In contrast, product diversification refers to adding new products or services to the existing product line, which is not relevant here since the question specifically mentions introducing existing products only. Market penetration focuses on increasing market share within existing markets rather than seeking out new markets. Product development involves creating new products to sell to existing markets, which again does not pertain to introducing existing products into new contexts.