Advertisements
Advertisements
Question
The strategy of introducing new product in existing market is classified as ______.
Options
Market development
Market Penetration
Product development
Diversification
Advertisements
Solution
The strategy of introducing new product in existing market is classified as Product development.
Explanation:
Product development involves creating new products to serve existing markets. This strategy focuses on innovation and improvement to meet the evolving needs of the current customer base, thereby increasing market share and competitiveness.
APPEARS IN
RELATED QUESTIONS
State any two advantages of cost-plus pricing strategy.
Markup pricing is also called as ______.
Introducing a product at low price and increasing the price once the brand succeeds is known as ______ pricing.
The pricing strategy involves charging according to what competitors are charging ______.
Give two conditions under which parity pricing is desirable.
What is skimming pricing?
What is Cost plus pricing policy?
What are the conditions under which parity pricing is desirable?
What pricing strategy will be used to launch a high-end smart phone?
What pricing strategy will be used to launch shampoo?
