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Questions and Answers
What is the definition of New Geographical Market?
What is the definition of New Geographical Market?
- Selling the existing product in new locations (correct)
- Providing insight into how the product may be valuable to new groups of buyers
- Characterizing potential customers based on their demographics
- Developing and selling new products to people already purchasing existing products
What is a Value Added Chain?
What is a Value Added Chain?
- Ensuring profit is made at every stage of product development
- A strategy to grow by developing and selling new products to existing customers
- Selling a new product to a new market
- Describing the steps to convert raw materials into a final product (correct)
What does Diversification Strategies involve?
What does Diversification Strategies involve?
- Selling a new product to an existing market
- Growing by selling a new product to a new market (correct)
- Characterizing potential customers based on demographics
- Growing by developing and selling new products to existing customers
How does the text define New Product Use?
How does the text define New Product Use?
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What challenges are mentioned as Implications of Growth for the Firm?
What challenges are mentioned as Implications of Growth for the Firm?
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