HeadStart,an automobile manufacturer,realizes that the sales of its RockStart SUV has fallen over the last few years.Consequently,HeadStart introduces a revamped version of the SUV with additional features,such as the latest GPS technology device and padded dashboards.The company stops the production of its old model to invest all its resources into marketing this new model in its present market.In this scenario,HeadStart is most likely employing the strategy of _____.
A)market development
B)market penetration
C)product development
D)product penetration

Question

Quizplus · Accepted Answer

HeadStart is introducing a revamped version of the SUV with additional features, which is a clear indication of product development. Additionally, the company is investing all its resources into marketing this new model in its present market, which further supports the choice of product development. Market development and market penetration would involve expanding the company's reach in new or existing markets, respectively, while product penetration is not a recognized strategy in marketing.

HeadStart,an Automobile Manufacturer,realizes That the Sales of Its RockStart SUV