An App Development Firm Is Working on a New Product

question 76

Multiple Choice

An app development firm is working on a new product to identify and consolidate a smartphone user's favorite and most-used apps into one place on the phone. If the new product will be sold to existing customers, the firm is pursuing a strategy of:

• A) product development.
• B) market penetration.
• C) product proliferation.
• D) market signaling.
• E) market development

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Definitions:

Acceptance

The action of consenting to receive or undertake something offered.

Offer

A proposal presented by one party to another as the basis for a contract, requiring acceptance to become legally binding.

Mirror Image Rule

A principle in contract law stating that an offer must be accepted exactly with no modifications for a valid contract to be formed.

Offeror

The party making the offer.