A company is following a market development strategy when it adds a new line of chocolate body paint to its existing line of chocolate bars and boxed chocolates.

Name: A company is following a market development strategy when it adds a new line of chocolate body paint to its existing line of chocolate bars and boxed chocolates.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A market development strategy involves entering new markets with existing products, while adding a new product line is a product development strategy.

A Company Is Following a Market Development Strategy When It