When Hilton Brews,a Large Company Producing Instant Mixes for All

question 65

Multiple Choice

 When Hilton Brews,a large company producing instant mixes for all kinds of beverages,noticed the rise in people consuming tea for its potential health benefits,the company introduced a new line of organically grown and processed teas like green tea or tea with various herb extracts and additional antioxidants.Which of the following organizational growth strategies was used by Hilton Brews? 

• A) Product development
• B) Diversification
• C) Market penetration
• D) Market development

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Definitions:

Product X

A placeholder term for an unspecified or hypothetical product used in discussions or analyses.

Income Elasticity of Demand

A measure of how much the quantity demanded of a good changes in response to a change in consumer income.

Consumer Income

The total earnings of consumers, which determines their purchasing power and ability to consume goods and services.

Jewelry

Decorative items worn for personal adornment, such as rings, necklaces, earrings, and bracelets, which are often made from valuable materials.