________ strategies involve developing and selling new products to people who are already purchasing the firm's existing products.
A) Penetration
B) Product development
C) Market development
D) Diversification

Question

Quizplus · Accepted Answer

Product development strategies involve developing and selling new products to people who are already purchasing the firm's existing products. This strategy aims to increase sales and market share by introducing new products or variations of existing products to the same customer base. Penetration strategies aim to increase market share in existing markets, market development strategies involve expanding the target market for existing products, and diversification strategies involve entering new markets with new products.

________ Strategies Involve Developing and Selling New Products to People