Gabriel,VP of marketing for Really Big Screen Televisions,wants the company to offer a DVD player,a product the company doesn't have now.He thinks that the firm has many brand-loyal customers who would buy it.Most likely,this would be classified as ________ in Ansoff's Product-Market Matrix.

Question

Quizplus · Accepted Answer

Product development involves creating or improving a product to meet the needs of existing customers, which is what Gabriel is proposing by adding a DVD player to the product line. Market diversification involves creating or acquiring new products to target new markets, while marketing strategy development involves finding new ways to promote existing products. Market penetration involves selling more of existing products to existing customers, and market development involves finding new markets for existing products.

Gabriel,VP of Marketing for Really Big Screen Televisions,wants the Company