American Express offers a Cobaltcard,a pre-loaded credit card,to 13- to 22-year-olds looking to make online purchases.While American Express had previously supplied credit cards only to many adults,this was a market that was not being served.Which type of strategy is the Cobaltcard program an example of?

Question

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Market development finds new uses for a product to stimulate sales among new customers.This product is a credit card (a long-time AmEx product)aimed at a market.

American Express Offers a Cobaltcard,a Pre-Loaded Credit Card,to 13- to 22-Year-Olds