Agrowth strategy whereby a firm introduces a new product or service to a market segment that it does not currently serve.

Diversification Strategy

Explanation:

According to my research on different types of market strategies, I can say that based on the information provided within the question the strategy being defined is called a Diversification Strategy. Like mentioned in the question this strategy focuses on implementing a current or completely new product into a brand new market that the company has not previously marketed in.

For example, a Phone company like Samsung finds out that no other company is selling phones in Ecuador and there is a large demand for phones. Since Samsung sells phones they decide to open a store in Ecuador. Therefore, Samsung is Diversifying into Ecuador's Markets.

I hope this answered your question. If you have any more questions feel free to ask away at .

i honestly have no idea