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Questions and Answers
What is an example of a new strategy a company can use to expand its market development?
What is an example of a new strategy a company can use to expand its market development?
- Introducing modified products
- Promoting the product in new geographic areas (correct)
- Decreasing the advertising budget
- Focusing on the existing customer base only
Which of the following is an example of a psychographic segment?
Which of the following is an example of a psychographic segment?
- Values and interests of consumers (correct)
- Location and climate of regions
- Income levels of consumers
- Age and gender of consumers
What should a company consider when targeting new demographic segments?
What should a company consider when targeting new demographic segments?
- Selling only to the same types of consumers as before
- Ignoring consumer interests and lifestyles
- Promoting the product in different parts of the country
- Developing products that cater to the new demographics (correct)
