When Home Depot opens new stores in Mexico,it is using a ______ strategy,one of the profit enhancement options.

Question

Quizplus · Accepted Answer

Market development involves expanding into new markets with existing products. Home Depot is opening new stores in Mexico, which is a new market for them, but they will be selling the same products as in their existing stores. Therefore, this strategy fits with market development rather than market penetration (selling more of existing products in existing markets), differentiation (offering unique products or services), or diversification (entering new markets with new products or services).

When Home Depot Opens New Stores in Mexico,it Is Using