When General Mills introduced Honey Nut Cheerios to sell to its regular Cheerios customers, it was using a market development strategy.

Question

Quizplus · Accepted Answer

Introducing Honey Nut Cheerios to regular Cheerios customers is an example of product development strategy, not market development. Market development involves entering a new market using existing products, whereas product development involves creating new products for existing markets.

When General Mills Introduced Honey Nut Cheerios to Sell to Its