Research has shown that people below the age of 15 prefer using other colours than the familiar red ketchup.To capture this market,Heinz markets blue-,purple- and green-coloured ketchups.The ketchups have an exotic look,which Heinz hopes will appeal to this market.It still tastes like the red variety.Since this is not really a new product,just an attempt to reach a new target market,what type of strategy does it exemplify?

Question

Quizplus · Accepted Answer

The strategy exemplified here is market development, which involves expanding an existing product into new markets. Heinz has not created a new product but is attempting to reach a new target market, which is the under-15 age group. The introduction of different colored ketchups with an exotic look is a tactic aimed at capturing this market's attention. Therefore, option C, market development, is the best choice.

Research Has Shown That People Below the Age of 15