In keeping with its corporate strategy of "building a global luxury accessories business," Ralph Lauren introduced a new line of footwear. In business terms, how would the actions of Ralph Lauren be described?
A) market penetration
B) market development
C) product development
D) product diversification

Question

Quizplus · Accepted Answer

Ralph Lauren's introduction of a new line of footwear represents product development, as the company is expanding its product offerings within the existing market of luxury accessories.

In Keeping with Its Corporate Strategy of "Building a Global