When Gulfstream Aerospace Corp. (GAC)sold 3 Gulfstream V business jet aircraft to the Israeli Ministry of Defense for use as Special Electronic Mission Aircraft, the first sale to a Middle Eastern country, GAC followed which strategy?
A)product development
B)market penetration
C)market development
D)diversification

Question

Quizplus · Accepted Answer

Market development strategy involves expanding into new markets or segments. By selling the Gulfstream V business jet aircraft to the Israeli Ministry of Defense, Gulfstream Aerospace Corp. was entering a new market (a new country/region) with its existing product, which aligns with the market development strategy.