DLW,an automobile manufacturer,has found that sales of it RockStar SUV has fallen over the last few years.It introduces a new,revamped version of the SUV with the latest GPS technology and vehicle safety features.The company stops production of the old model in order to invest all of its resources into marketing this new model.Which of the following growth strategies is DLW employing?
A) Market development
B) Market penetration
C) Product development.
D) Market penetration.

Question

DLW,an automobile manufacturer,has found that sales of it RockStar SUV has fallen over the last few years.It introduces a new,revamped version of the SUV with the latest GPS technology and vehicle safety features.The company stops production of the old model in order to invest all of its resources into marketing this new model.Which of the following growth strategies is DLW employing?
A) Market development
B) Market penetration
C) Product development.
D) Market penetration.

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.

DLW,an Automobile Manufacturer,has Found That Sales of It RockStar SUV