Gabriel, vice president of marketing for Big Screen Televisions, wants the company to offer a DVD player, a product the company doesn't offer now. He thinks that the firm has many brand-loyal customers who would buy it. According to Igor Ansoff's Product-Market Matrix, this is an example of the ________ strategy.

Question

Quizplus · Accepted Answer

Gabriel's idea to offer a new product (DVD player) to attract brand-loyal customers is an example of the product development strategy in Ansoff's Product-Market Matrix. This strategy involves creating or adding new products to an existing market to expand the customer base and increase sales.

Gabriel, Vice President of Marketing for Big Screen Televisions, Wants