Final answer:
Exporting US-made products to new foreign markets exemplifies a market development strategy, a type of intensive growth strategy aimed at expanding the customer base and market share globally.
Step-by-step explanation:
Exporting products made in the US to new foreign markets is a basic example of a market development strategy. This is a form of intensive growth strategy outlined by Ansoff's matrix, which focuses on finding new markets for existing products.
The idea is to expand the potential customer base which could lead to increased sales and market share. In contrast, approaches such as import substitution aim to reduce dependency on foreign goods by producing them domestically, which is a distinct concept.
Globalization has indeed broadened market boundaries, making it easier for companies to pursue market development strategies by venturing into the international arena, thereby encountering a diversified competitive landscape.
Exporting products made in the US to new foreign markets is an example of an intensive market development strategy. This strategy focuses on expanding market share by entering new markets with existing products. By exporting products to new foreign markets, a company can increase its sales and customer base.