Fastlane (Sports shoe company) has decided to expand and is experimenting with various growth strategies. It first decided to purchase some Burger King (fast food franchises) and Mobay (Jamaican restaurant) stores. This move was considered a failure and now Fastlane has decided to open more Fastlane stores and to keep them open longer than their competitors. Fastlane has:
A) Abandoned a retail format development strategy and adopted a diversification strategy
B) Abandoned a market penetration strategy and adopted a retail format development strategy
C) Abandoned a diversification strategy and adopted a market expansion strategy
D) Abandoned a diversification strategy and adopted a market penetration strategy
E) Abandoned a market expansion strategy and adopted a market penetration strategy
Correct Answer:
Verified
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