John Hopkins is working with a private hospital in China to establish a new cancer center. This approach is an example of the market penetration strategy.

Question

Quizplus · Accepted Answer

Market penetration strategy involves increasing market share within existing markets, whereas establishing a new cancer center in collaboration with a private hospital in China is an example of a market development or diversification strategy, as it involves entering a new market or offering new services.

John Hopkins Is Working with a Private Hospital in China