As the head of Eastman Kodak Co. ,George M.C.Fisher devised a plan to save Kodak from being trapped in the slow-growth photography industry,hobbled by huge debts,a dysfunctional management culture,and a dispirited workforce.At the time of his takeover of Kodak,the product development and sales functions for the company were scattered among divisions,and the business mission was ill focused.Fisher envisioned a long-term strategy in which Kodak focused on its core competencies.By evaluating the pros and cons associated with its various businesses,Fisher decided that imaging was the key to the future.He then sold Kodak's health and household-products arms.He also assembled most of the corporate talent into one division and hired an experienced computer marketing executive to head it.Further,by stressing accountability,quality,and cycle time,Fisher began to transform Kodak's slow-moving culture.Fisher believes Kodak could double its growth rate in photography,a tough challenge in a slow-growing market,by becoming more global and by challenging Fujifilm in China.
-Refer to Eastman Kodak Co.Fisher realized the market for photography is growing slowly,so he planned to expand into China.Which growth strategy is Fisher practising?

Question

Quizplus · Accepted Answer

Fisher is practising market development strategy by expanding into China, which involves entering new markets with existing products. He is not introducing new products (product development) or diversifying into unrelated businesses. Market penetration strategy involves increasing market share in existing markets.

As the Head of Eastman Kodak Co