A popular television channel ropes in a celebrity to make a guest appearance in an episode of its popular talk show.The show's producer believes that it will attract new viewers for the talk show and also help in increasing the market share of the channel.This scenario is an example of the _____ strategy.

Question

Quizplus · Accepted Answer

Market development refers to increasing sales of existing products in new markets. In this case, the television channel is trying to attract new viewers for its existing talk show, which falls under the category of market development. Product development would refer to developing new products for existing markets, market saturation indicates the point at which a market becomes saturated with a product or service, and diversification refers to expanding into new markets with new products.

A Popular Television Channel Ropes in a Celebrity to Make