In general, the most appropriate and effective product strategy to use in the initial stage of a small business is the _____ product strategy.
A) one product/one market
B) one product/multiple markets
C) multiple products/one market
D) multiple products/multiple markets

Question

Quizplus · Accepted Answer

In the initial stage of a small business, it is important to focus on a single product and a single target market to establish a strong presence and brand recognition. This allows the business to invest its limited resources in creating and refining a high-quality product that meets the needs of its target market. Once the business has gained a foothold in its initial market, it can then consider expanding either by introducing new products to its existing market or by targeting new markets with its existing product. However, in the beginning, the one product/one market strategy is the most appropriate and effective approach.

In General, the Most Appropriate and Effective Product Strategy to Use