Which is ‘product development' growth?

This choice describes a 'diversification' strategy rather than product development. While introducing a new product in a new market can lead to growth, it involves higher risks due to the unfamiliarity with both the product and market dynamics. Hence, it does not align with the definition of product development.

This option refers to a 'market penetration' strategy, which focuses on increasing sales of current products within an established market. This approach emphasizes gaining market share rather than developing new products, thus failing to fit the criteria for product development.

This choice represents a 'market development' strategy, where existing products are introduced to new markets. The emphasis is on expanding the reach of current offerings rather than innovating or developing new products, which is the essence of product development growth.