When Nike, the prominent athletic shoe manufacturer, branched out from selling only athletic shoes to also offering athletic clothing and gym bags, what type of growth strategy did this represent?

Question

Quizplus · Accepted Answer

Nike expanding its product line from only selling athletic shoes to also offering athletic clothing and gym bags represents product development, which involves creating new products or modifying existing ones to appeal to current customer needs or to enter new markets.

When Nike, the Prominent Athletic Shoe Manufacturer, Branched Out from Selling