Which of the following strategies refers to creating new products to replace existing ones?
A)Market penetration
B)Product development
C)Market development
D)Product repositioning

Question

Quizplus · Accepted Answer

Product development is the strategy of creating new products to replace existing ones. Market penetration refers to selling existing products in existing markets, market development refers to selling existing products in new markets, and product repositioning refers to changing the positioning of existing products in the market.

Which of the Following Strategies Refers to Creating New Products