A firm's decision to identify and develop new markets for existing products is a ________ strategy.
A) market development
B) market differentiation
C) market penetration
D) product development
E) diversification

Question

Quizplus · Accepted Answer

Market development strategy involves identifying and developing new markets for existing products. This could involve finding new uses for the products or tapping into new segments of consumers who have not yet been targeted. Therefore, the best choice in this case is option A.

A Firm's Decision to Identify and Develop New Markets for Existing