Acme, Inc., has modified the distribution process of its widgets and gadgets in order to tap into the Eastern European market. Acme is likely following a ________ strategy.
A)market penetration
B)market development
C)diversification
D)harvesting
E)product development

Question

Quizplus · Accepted Answer

Market development involves expanding into new markets with existing products. Acme is modifying its distribution process to tap into the Eastern European market, which is a new market for the company. Therefore, Acme is following a market development strategy.

Acme, Inc, Has Modified the Distribution Process of Its Widgets and and Gadgets