Consider Figure 2-5 above.A family owns a gelato business in a small town square next to a park,which is a favorite place for parents and children to stop on their way home from work to relax or school to play.However,the business owner is barely making ends meet.He is beginning to think that he will not be able to support his family if things don't improve,but he doesn't want to give up his store.Instead,he experiments by selling hand-made flies on the Internet for professional sports fishermen.This is an example of a __________ strategy that would be found in quadrant __________.

Question

Quizplus · Accepted Answer

This is an example of a diversification strategy, as the business owner is introducing a new product (hand-made flies) to a new market (professional sports fishermen), which is unrelated to his current gelato business.

Consider Figure 2-5 Above