Asked by Bryan Fabrig on Sep 28, 2024
Verified
Which of the following best describes a growth strategy of market development?
A) selling existing products to existing markets
B) selling existing products to new markets
C) selling new products to existing markets
D) selling new products to new markets
Growth Strategy
A growth strategy refers to a plan or approach adopted by a business to expand its market presence, increase revenue, or achieve other significant growth objectives.
Market Development
A strategic business growth technique that involves selling existing products in new markets or new geographical areas.
Existing Products
Goods or services that are currently available to consumers from a business.
- Recognize and distinguish among different expansion tactics, including product innovation, market penetration, market expansion, and diversification.
Verified Answer
Learning Objectives
- Recognize and distinguish among different expansion tactics, including product innovation, market penetration, market expansion, and diversification.
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