Clay Market began as a retailer of terra cotta pots and garden figures imported from Turkey and Mexico.It has since added Turkish rugs and fabrics,leather-trimmed purses,and a line of women's clothes for its customers.This activity is indicative of which type of strategy?

Question

Quizplus · Accepted Answer

Product development, which involves introducing new products to an existing market, is the most appropriate strategy for Clay Market as it has added new product lines (Turkish rugs and fabrics, leather-trimmed purses, women's clothes) to its existing retail business of selling terra cotta pots and garden figures imported from Turkey and Mexico.

Clay Market Began as a Retailer of Terra Cotta Pots