What strategy focuses on expanding a company's market through new users or new uses?

The strategy that focuses on expanding a company’s market through new users or new uses is market development. This approach is aimed at finding new customer segments for existing products or exploring new ways to utilize those products in different contexts. By identifying untapped markets or innovative applications for current offerings, a company can increase its customer base and sales without the need to develop new products.

Market development is particularly effective because it leverages existing strengths and resources while aiming for growth through broader market reach. By understanding customer needs and discovering new demographics or usage scenarios, companies can strategically position themselves to capture greater market share. This can involve geographic expansion, targeting new audience segments, or repositioning products for different uses.

In contrast, product development focuses specifically on creating new products or enhancing existing ones, which does not directly pertain to expanding market presence through new users or usage scenarios. Horizontal diversification involves entering new markets or developing new products that are related to the existing business but differs from merely expanding the current market for a product. Retrenchment refers to reduction in scale or scope, often in response to financial difficulties, which does not align with the goal of expanding market presence.