In the Ansoff Corporate Product/Market Expansion Grid, seeking increased sales by bringing existing products into new geographic or demographic markets is termed:

Explanation

* Market Development involves identifying and expanding existing products into completely new target markets or geographies.
* Market Penetration sells existing products to existing markets; Product Development sells new products to existing markets; Diversification enters new markets with new products.
* Opening retail outlets in overseas countries is a textbook example of Market Development.