Yorkdale Mall hopes to increase traffic in the shopping center by offering free lunches to children in mall restaurants on Tuesdays.This promotion is directed to families who currently do not shop at the mall.This is an example of the implementation of a _____ strategy.

Question

Quizplus · Accepted Answer

This is an example of market development because Yorkdale Mall is trying to increase traffic by targeting families who currently do not shop at the mall. By offering free lunches to children, they are hoping to attract new customers and expand their market share. Market penetration refers to increasing sales in the existing market, product development involves creating and introducing new products to the existing market, and diversification refers to entering new markets with new products.

Yorkdale Mall Hopes to Increase Traffic in the Shopping Center