A firm pursuing market development would likely increase investments in: A.Produ
ID: 467677 • Letter: A
Question
A firm pursuing market development would likely increase investments in: A.Product development B.Basic R&D C.Process development D.A new sales force E.Applications development A firm pursuing market development would likely increase investments in: A.Product development B.Basic R&D C.Process development D.A new sales force E.Applications development A firm pursuing market development would likely increase investments in: A.Product development B.Basic R&D C.Process development D.A new sales force E.Applications developmentExplanation / Answer
Market development strategy is followed when the company needs to target new customer segments by existing products. This strategy is followed when the company feels that it can augment its reach by reaching out to the unexplored market segments but do not want to increase the production of new products or invest in innovating new ideas. This strategy is one of the four strategies of market entry according to Ansoff matrix.
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