Heinz, in order to boost its sales, came up with ketchup in gross green and funky purple colors. It packaged the ketchup in EZ Squirt dispensers molded to fit little hands. This is an example of:

Question

Quizplus · Accepted Answer

Product development involves creating new products or improving existing ones to better meet the needs or wants of a target market. In this case, Heinz developed new colors and packaging designed to appeal to children, which can be considered a form of product development. Market development involves expanding into new markets with existing products, diversification involves entering new markets with new products, and market penetration involves increasing sales of existing products in existing markets. None of these options fully capture the actions taken by Heinz in this scenario.

Heinz, in Order to Boost Its Sales, Came Up with Ketchup