What type of strategy is exemplified by Starbucks developing Via instant coffee for current markets?
Understand the Problem
The question is asking to identify the type of strategy that Starbucks employed by developing its Via instant coffee product. The focus is on business strategies in marketing and product management.
Answer
market penetration
The final answer is market penetration
Answer for screen readers
The final answer is market penetration
More Information
Market penetration involves increasing market share within existing markets using current products. Starbucks developing Via instant coffee for its current market exemplifies this strategy.
Tips
A common mistake is confusing market penetration with market development, which involves entering new markets with existing products.
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