Dali stationery and office supplies is a market leader in China.The company wants to expand its business and is setting up retail chains in other Asian countries.Which of the following new-product development strategies is being used by the company in the above scenario?

Question

Quizplus · Accepted Answer

The company is expanding its business by setting up new retail chains in other Asian countries, which is an example of market development strategy. This strategy involves entering new markets with existing products to capture new customers and increase sales. The company is not introducing new products but expanding its reach in new markets. Market penetration strategy is about increasing sales in existing markets, product development strategy is about introducing new products in existing markets, and product diversification strategy is about introducing new products in new markets.

Dali Stationery and Office Supplies Is a Market Leader in China.The