H&R is a small,local heating and air conditioning business.The area military base is a potential source of growth,and H&R already installs and services the type of equipment the military would require,but it is difficult to get established as a certified government contractor.H&R is considering a ____________ growth strategy.
A) product proliferation
B) market development
C) market penetration
D) diversification
E) product development

Question

Quizplus · Accepted Answer

H&R is considering expanding into a new market, specifically the military base, which is an example of market development. This growth strategy involves finding and developing new markets for existing products or services, which would align with H&R's current position as a heating and air conditioning business. The other growth strategies listed (product proliferation, market penetration, diversification, and product development) do not accurately reflect H&R's situation and goals.

H&R Is a Small,local Heating and Air Conditioning Business