Apex Corp. has been manufacturing furniture for past several years. Now in order to grow its business, the company has decided to manufacture curtains and bed sheets. The strategy being used by the company to target new markets is referred to as a _____.
A) product association strategy
B) market simulation strategy
C) market engagement strategy
D) product diversification strategy

Question

Quizplus · Accepted Answer

Apex Corp. is expanding its product line to include new items (curtains and bed sheets) beyond its traditional furniture manufacturing. This strategy of adding new products to reach new or existing markets is known as product diversification strategy.

Apex Corp Has Been Manufacturing Furniture for Past Several Years