Effects of market development strategies on firm’s performance were evaluated in this study using a sample size of 325 drawn from six product organizations in Enugu State. The basic variables examined are new market segments, New Distribution channels and New Price implementation as the predictive variables, and profitability and customer patronage as the dependent variables. Analysis of the sample was done using the version 20 of the SPSS. The findings are that there is a significant positive relationship between: (i) New Distribution channels and firm’s profitability (b1 = 2.313), (ii) New Distribution channels and firm’s customer patronage. (b2=1.682), (ii) New Market segments and profitability (b3=1.803), (iv) New Market segments and patronage (b4=2.619), (v) New Price Implementation and Profitability (b5=1.097) and (vi) New Price implementation and patronage (b6=2.225). All beta coefficients in the regression results showed significance at the 5% level, leading to the rejection of the null hypotheses of the study. The standard error of estimate was negligible in each case, with a maximum value of a = 0.0622, indicating a reasonable degree of accuracy in the estimation. The Durbin-Watson statistic was 1.318 which means that the predictor (independent) variables are not significantly autocorrelated, again, adding to the accuracy of the results. Based on these findings, it was concluded that market development strategy has a significant direct relationship with firm’s performance. It was advised that managers should strategically adopt segmentation, new price implementation and search for new distribution channel with a view to impacting positively on the firm’s profitability and customer patronages, among other recommendations.