Jamal's boss wants him to travel to Canada to investigate opening retail stores in Montreal and Ottawa.The firm operates 278 stores in the United States.Most likely,the extension into a new geographic region would be classified as ________ in Ansoff's Product-Market Matrix.

Question

Quizplus · Accepted Answer

Market development involves expanding into a new geographic market with existing products. In this case, Jamal's firm is expanding into Canada, which is a new market for them. It is not market diversification (A) because they are not introducing new products or services, nor is it marketing strategy development (B) because they are not developing new marketing strategies. It is also not market penetration (C) because they are not trying to increase their market share within an existing market. Finally, it is not product development (D) because they are not creating new products.

Jamal's Boss Wants Him to Travel to Canada to Investigate