Part of Sophie Steins’ strategy to grow her property investment company was to start buying and renovating buildings in inner cities around the country. This has given her a competitive advantage in the new market. This is an example of __________________

This is an example of **d. market development**. Sophie is expanding her company's reach by entering new markets (inner cities) and renovating properties, which aligns with the concept of market development—seeking to grow by targeting new customer segments or geographic areas.