Current products are introduced into new markets under a strategy of:

Question

Quizplus · Accepted Answer

Market development is the strategy of introducing current products into new markets. This can involve identifying new customer segments, entering new geographic regions or expanding sales channels. Market penetration, on the other hand, involves increasing sales of existing products in existing markets. Diversification involves introducing new products into new markets, while product development involves introducing new products into existing markets. Market saturation refers to the point at which the entire potential market for a product has been reached. Therefore, market development is the best choice for introducing current products into new markets.

Current Products Are Introduced into New Markets Under a Strategy