Which of the following strategies refers to creating new products to replace existing ones?
A) Market penetration
B) Product development
C) Market development
D) Market diversification

Question

Which of the following strategies refers to creating new products to replace existing ones? 
A) Market penetration
B) Product development
C) Market development
D) Market diversification

Quizplus · Accepted Answer

The growth vector matrix indicates the direction in which the organization is moving with respect to its current products and markets. Product development refers to creating new products to replace existing ones.

Which of the Following Strategies Refers to Creating New Products