Asked by Oguche Agnebb on Jul 08, 2024
Verified
When musicians and their concert promoters offer CDs of a live concert immediately after the concert ends, what type of growth strategy are they pursuing?
Growth Strategy
A plan for business expansion, which may include entering new markets, launching new products, or increasing market share.
- Evaluate strategies for expansion like penetrating the market, entering new markets, innovating products, and diversifying.
- Apply growth strategy concepts to real-life business situations for improving performance or expansion.
Verified Answer
GL
Gabriella LucarelliJul 10, 2024
Final Answer :
Product development, because the CD is a new product (just recorded)and it's being sold to current customers.
Learning Objectives
- Evaluate strategies for expansion like penetrating the market, entering new markets, innovating products, and diversifying.
- Apply growth strategy concepts to real-life business situations for improving performance or expansion.
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