noun
market development; market cultivation
Business term for developing new markets or expanding into untapped customer segments.
当社は海外市場開拓に力を入れています。
Our company is focusing on overseas market development.
新製品の市場開拓には時間がかかる。
Market development for new products takes time.
Compound of 市場 (market) and 開拓 (reclamation, development). The meaning is transparent from its parts.