_______ Strategy Allows Firms to Leverage Some of Their Traditional

question 58

Multiple Choice

_______ strategy allows firms to leverage some of their traditional strengths by identifying new uses of existing products and by finding new demographic or psychographic markets.

• A) Innovation
• B) Product development
• C) Market development
• D) Horizontal integration

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Definitions:

Socialize

The method by which people assimilate and embrace the standards, morals, and actions considered acceptable within their community or social circle.

Social Consequences

The outcomes or effects that an action or event has on the social fabric and interactions within a community.

Interact

To act in response to something, often referring to the action or influence of objects or people on each other.

Workplace

An location where people are employed and engage in tasks related to their occupation; can refer broadly to an office, factory, or any organizational setting.