What is the aim of a market expansion strategy?

A market expansion strategy is primarily focused on increasing an organization's market share by entering new regions or segments. This approach enables businesses to reach a larger audience, tap into new customer bases, and ultimately drive growth. By identifying and accessing untapped markets or customer segments, companies can enhance their revenue potential and diminish their reliance on existing markets that might be saturated or stagnant.

While other options like reducing product prices, consolidating customer relationships, or limiting competition may play a role in broader marketing tactics, they do not specifically align with the fundamental objective of market expansion. The essence of market expansion is growth through new entry points, which makes the focus on entering new areas or segments a key aspect of this strategy.