Research has shown that people below the age of fifteen do not use the familiar red ketchup.To capture this market,Heinz markets blue-,purple- and green-colored ketchup.The ketchups have an exotic look,which Heinz hopes will appeal to this market.It still tastes like the old red variety.Since this is not really a new product,just an attempt to reach a new target market,it exemplifies a _____ strategy.

Question

Quizplus · Accepted Answer

Market development strategy seeks to increase sales by venturing into new markets. In this case, Heinz is trying to reach a new target market of people below the age of fifteen who do not use the red ketchup by introducing the blue-, purple-, and green-colored ketchup. It is not a new product, but a strategy to capture a new market. Therefore, market development strategy is the best choice.

Research Has Shown That People Below the Age of Fifteen