Vinny, the marketing manager for Bass Line Audio Systems, wants the company to offer an MP3 player, a product the company doesn't have.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 new products for existing markets. In this case, Bass Line Audio Systems would be creating a new product (MP3 player) for its existing loyal customer base. This aligns with Vinny's desire to offer a new product to the company's brand loyal customers.

Vinny, the Marketing Manager for Bass Line Audio Systems, Wants