B&D is a small, local, heating and air conditioning business. The company views the nearby military base as a potential source of growth since B&D already installs and services the type of equipment the military would require. B&D is considering a ________ growth strategy.
A)product proliferation
B)market development
C)market penetration
D)diversification
E)product development

Question

Quizplus · Accepted Answer

B&D is considering expanding their market to include the nearby military base. This is an example of market development, where the company seeks to sell their existing products/services in new markets.

B&D Is a Small, Local, Heating and Air Conditioning Business