Market development is known as the strategy for company growth through the identification and creation of a new market segment for products that’ve already been established. The name change from Coach Inc. to Tapestry can definitely be viewed as a strategy to grow their market. They’ve acquired top fashion brands with a variety of ranges in America, and now they have to opportunity to obtain companies overseas expanding their companies name, then allowing the already brands to become known internationally. They have created a name for a group of brands that can be distinguished through different marketing strategies as each brand can be set to a specific target market.
