Which of the Following Is a Key Difference Between a Market

question 66

Multiple Choice

Which of the following is a key difference between a market development strategy and a diversification strategy?

• A)Diversification offers products in a new market, whereas market development involves offering a product in the existing market.
• B)Diversification occurs when a new product is offered in an existing market, whereas market development takes place when an existing product is offered in a new market.
• C)Diversification involves the development of a new product, whereas market development uses an existing product.
• D)Diversification involves low levels of risk, whereas market development is characterized by high levels of risk.
• E)Diversification involves offering a product in the existing market, whereas market development offers products in a new market.

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Definitions:

Complementary Inputs

Goods or services that are used together such that the increase in consumption of one results in an increase in consumption of the other.

U.S. Census Bureau

The federal agency responsible for collecting and analyzing data about the American people, economy, and institutions, often used for policy making and research.

Illegal Immigrants

Individuals who enter or reside in a country without the proper authorization or documentation required by law.

Standard of Living

The degree of wealth, comfort, material goods, and necessities available to a person, group, or society.