Asked by Morgan Burroughs on May 09, 2024
Verified
Marketers who design and offer new products and services to their existing customers are pursuing a ________ growth strategy.
A) product proliferation
B) market development
C) market penetration
D) diversification
E) product development
Product Development
The complete process of bringing a new product or service to market, from initial concept through design, creation, and market introduction.
Growth Strategy
Plans and actions that a company implements to expand its business, increase market share, or develop its operations.
New Products
Goods or services that have been recently developed or introduced to the market.
- Gain insight into the principles and strategic impact of market growth strategies, including market penetration, product development, market development, and diversification.
Verified Answer
Learning Objectives
- Gain insight into the principles and strategic impact of market growth strategies, including market penetration, product development, market development, and diversification.
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