Which of the following organizational growth strategies seeks to find new customers for existing products?
A)Diversification
B)Product development
C)Market development
D)Market penetration

Question

Quizplus · Accepted Answer

Market development is the organizational growth strategy that seeks to find new customers for existing products. It involves expanding into new markets, geographic regions, or demographic segments to increase sales of existing products. Diversification involves developing new products for new markets, product development involves creating new products for existing markets, and market penetration involves increasing sales of existing products in existing markets.

Which of the Following Organizational Growth Strategies Seeks to Find