Which of the following is the growth strategy that employs an existing marketing offering to reach new market segments?
A)Market development
B)Product development
C)Diversification strategy
D)Market penetration
E)Product intensification

Question

Quizplus · Accepted Answer

Market development is the growth strategy that employs an existing marketing offering to reach new market segments. This may involve identifying and targeting new geographic areas, demographic groups, or other segments that have not yet been tapped for the product or service. Market development can be a less risky strategy than product development or diversification because it builds on existing strengths and experience in the market.

Which of the Following Is the Growth Strategy That Employs