Matsura Industries distributes candy and coffee through its vending machines in Tokyo.The addition of sandwich vending machines to the same market is an example of a _____ strategy.
A)market penetration
B)market development
C)product development
D)diversification

Question

Quizplus · Accepted Answer

Product development involves the creation and launch of new products or services in existing markets. In this case, Matsura Industries is introducing a new product (sandwiches) in an existing market (Tokyo), which is an example of product development. Market penetration involves increasing the market share of existing products in existing markets, market development involves entering new markets with existing products, and diversification involves entering new markets with new products or services.

Matsura Industries Distributes Candy and Coffee Through Its Vending Machines