Which of the following is a key difference between a market development strategy and a diversification strategy?
A)Diversification offers products in a new market, whereas market development involves offering a product in the existing market.
B)Diversification occurs when a new product is offered in an existing market, whereas market development takes place when an existing product is offered in a new market.
C)Diversification involves the development of a new product, whereas market development uses an existing product.
D)Diversification involves low levels of risk, whereas market development is characterized by high levels of risk.
E)Diversification involves offering a product in the existing market, whereas market development offers products in a new market.

Question

Quizplus · Accepted Answer

Diversification involves creating and offering new products, often in new markets, while market development focuses on introducing existing products to new markets.

Which of the Following Is a Key Difference Between a Market