LVMH,a Maker of Luxury-Goods,has Expanded Its Products Offerings into China,Russia,India,and

question 94

Multiple Choice

LVMH,a maker of luxury-goods,has expanded its products offerings into China,Russia,India,and the Middle East.This exemplifies a _____ strategy.

• A) market development
• B) product development
• C) market penetration
• D) diversification
• E) product expansion

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Definitions:

Environmental Factors

External elements such as climate, geography, social conditions, and culture that can affect individuals' behaviors, development, and survival.

Group Processes

The dynamic interactions and mechanisms that occur within a group, influencing its structure, decision-making, and member behavior.

Ideal Space

An optimal physical or psychological environment tailored to the specific needs or preferences of individuals or groups.

Climato-Economic Theory

A theory positing that the economic and climatic conditions of a region shape its culture's norms and practices, especially regarding how much emphasis is placed on future planning and social norms.