The U.S.-based company Walmart, the world's largest retailer, has successfully launched its stores in Mexico, Canada, the U.K., and Germany, and other nations. This is an example of how Walmart is pursuing ________ as a growth strategy.
A)market penetration
B)product development
C)downsizing
D)market development
E)diversification

Question

Quizplus · Accepted Answer

Market development is a growth strategy in which a company expands its reach by entering new markets with its existing products or services. Walmart's expansion into Mexico, Canada, the U.K., and Germany is an example of this strategy.

The US-Based Company Walmart, the World's Largest Retailer, Has Successfully Launched