A Common Practice Among Marketers Is to Identify and Develop

question 106

Multiple Choice

A common practice among marketers is to identify and develop new markets for their current products.This practice is called ________.

• A) market development
• B) product development
• C) market penetration
• D) market skimming
• E) dual adaptation

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Definitions:

Special Occasion

Events or dates that hold particular significance and often call for celebration or recognition, which can influence consumer behavior.

Personal Needs

Fundamental requirements or desires that individuals seek to fulfill, such as food, safety, or love, which can significantly influence consumer behavior.

Purchase Situation

A purchase situation involves the context or environment in which a consumer's purchase is made, affecting their choices and behavior.

Product Alternatives

Different products or services a consumer can choose from to satisfy the same need or want.