Marketers who design and offer new products and services to their existing customers are pursuing a ________ growth strategy.
A)product proliferation
B)market development
C)market penetration
D)diversification
E)product development

Question

Quizplus · Accepted Answer

Product development is the growth strategy in which marketers offers new products or services to their existing customers. It is a way to increase sales and revenue by providing additional options or upgrades to current customers. Product proliferation refers to constantly adding new products to a company's offerings. Market development involves finding and targeting new markets for existing products. Market penetration is the strategy of increasing sales of existing products within the current market. Diversification is the growth strategy of expanding into new and unrelated markets or industries.

Marketers Who Design and Offer New Products and Services to Their