Due to several recent late spring freezes,orange growers in Florida have lost millions of dollars.As a result,some growers have decided to bulldoze their orange groves and put in freshwater lakes for raising shrimp,a product that has a strong popularity and is more weather-resistant.Former orange growers who are now raising shrimp are pursuing a _____ strategy.
A) market penetration
B) product development
C) diversification
D) market development
E) product penetration

Question

Quizplus · Accepted Answer

The former orange growers are pursuing a diversification strategy by switching from orange groves to raising shrimp, which is a completely different product.

Due to Several Recent Late Spring Freezes,orange Growers in Florida