Written Instruments, a maker of plastic ballpoint pens targeted at school-aged children, decided to market an additional line of pens. However, this small business was concerned that the introduction of a new ballpoint pen would reduce sales of the existing product in its current market niche. Therefore, Written Instruments created a high-quality, felt-tip pen targeted at business executives in order to expand sales. This company was employing a ____ product strategy.
A) multiple products/one market
B) multiple products/multiple markets
C) one product/multiple markets
D) modified product/multiple markets

Question

Quizplus · Accepted Answer

The company is introducing a new product (felt-tip pen) targeted at a different market segment (business executives) while continuing to sell its existing product (plastic ballpoint pens) to its current market (school-aged children), thus employing a multiple products/multiple markets strategy.

Written Instruments, a Maker of Plastic Ballpoint Pens Targeted at School-Aged