_______ strategy allows firms to leverage some of their traditional strengths by identifying new uses of existing products and by finding new demographic or psychographic markets.
A) Innovation
B) Product development
C) Market development
D) Horizontal integration

Question

Quizplus · Accepted Answer

Market development strategy involves expanding a company's reach by identifying new markets, including new demographic or psychographic groups. This strategy allows firms to leverage some of their traditional strengths by finding new uses of existing products or services to appeal to these new markets.

_______ Strategy Allows Firms to Leverage Some of Their Traditional