Retin-A is a topical ointment originally developed for the treatment of severe cases of acne and related skin disorders. An observed side benefit resulting from use of this product is its beneficial effect on aging skin. If the manufacturer of this product decided to pursue the latter market, what type of a growth strategy would it be pursuing?

The manufacturer was appealing to teens and young folks, now the focus is older folks.

Are there side effects which will be a problem for older folks? Such as super sensitivity to Sun?

Isn't it a prescription product? So before, GP and dermotolists were Rx-ing it, so now the manufacturer has to convince family doctors serving the aging to prescribe it.

If the manufacturer of Retin-A decides to pursue the market for aging skin, they would be pursuing a market development growth strategy. Market development involves targeting new customer segments or new geographic markets with existing products or services. In this case, the manufacturer would be expanding into a new customer segment, specifically targeting individuals with aging skin, rather than just focusing on treating severe acne.

To implement a market development strategy for Retin-A, the manufacturer can follow these steps:

1. Market Research: Conduct thorough market research to identify the target customer segment for aging skin. This could involve studying consumer preferences, demographics, and trends related to the aging skin market.

2. Product Positioning: Determine how Retin-A can be positioned as a beneficial product for aging skin. Identify the unique selling points and benefits that differentiate it from other anti-aging products in the market.

3. Marketing and Promotion: Develop marketing and promotional strategies to effectively reach the target market. This could include advertising campaigns, social media marketing, influencer partnerships, and collaborations with dermatologists or skincare clinics.

4. Distribution Channels: Evaluate distribution channels that are most suitable for reaching the target customers. This may involve leveraging existing channels or establishing new partnerships with retailers, pharmacies, or online platforms.

5. Pricing Strategy: Determine the appropriate pricing strategy for Retin-A in the aging skin market. This may involve analyzing competitor pricing, understanding target customers' willingness to pay, and considering the perceived value of the product in the new market.

6. Regulatory Considerations: Ensure compliance with regulatory requirements specific to the aging skin market, such as product claims, ingredients, and labeling regulations.

By pursuing a market development strategy, the manufacturer of Retin-A can leverage the product's beneficial effect on aging skin to tap into a new customer segment, expand their market reach, and potentially increase their revenue and market share.