Adams Industries Inc.is a firm that manufactures and markets kitchen appliances in the northern part of Belvier.As part of its expansion program, the company decides to introduce its existing range of products in the southern parts of Belvier.In this scenario, the strategy applied by the company is:

Question

Quizplus · Accepted Answer

The company is introducing their existing range of products in a new geographical area, which is an example of market development. Product diversification would involve introducing new products to an existing market, while market penetration would involve increasing sales to existing customers in an existing market. Product development would involve creating new products for existing markets, and product intensification is not a recognized marketing strategy.