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 market development strategy.

Question

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The former orange growers are pursuing a diversification strategy, not a market development strategy, as they are introducing a new product (shrimp) to a new market.

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