The managers of Alfredo's Pizza, a popular pizzeria in New York City, have been increasingly encouraging senior citizens to visit the pizzeria's numerous outlets spread across the city. Anticipating a rise in the population of senior citizens in the area, the management of Alfredo's Pizza is seeking to tap into this promising segment that consists of retired, affluent consumers. In this instance, the managers of Alfredo's Pizza are anticipating company growth through ________.
A) market development
B) product development
C) mass customization
D) niche marketing
E) product differentiation

Question

Quizplus · Accepted Answer

Market development is a strategy that involves finding new markets for existing products. In this case, the management of Alfredo's Pizza is seeking to tap into a new market segment, namely senior citizens. By encouraging senior citizens to visit their outlets, they hope to attract a new customer base and increase sales. This strategy is based on the anticipation of a rise in the population of senior citizens in the area, which presents a promising opportunity for growth. Therefore, the managers of Alfredo's Pizza are anticipating company growth through market development.

The Managers of Alfredo's Pizza, a Popular Pizzeria in New