Which of the following statements is true of the market development strategy?
A)It requires the creation of a new product.
B)It focuses on segments that are not currently served by a firm.
C)It primarily focuses on developing innovative offerings.
D)It requires products to be maintained at high prices.
E)It employs rewards programs and improved store atmospherics.

Question

Quizplus · Accepted Answer

The market development strategy focuses on identifying and targeting new customer segments that are not currently served by a firm. It does not necessarily require the creation of a new product or innovation, and products may not need to be maintained at high prices. Rewards programs and improved store atmospherics are tactics that could be used to support the strategy but are not the primary focus.

Which of the Following Statements Is True of the Market