Market Development Strategy Quiz
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Questions and Answers

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?

  • 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?

  • 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)

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