H&R Is a Small,local Heating and Air Conditioning Business

question 86

Multiple Choice

H&R is a small,local heating and air conditioning business.The area military base is a potential source of growth,and H&R already installs and services the type of equipment the military would require,but it is difficult to get established as a certified government contractor.H&R is considering a ____________ growth strategy.

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

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Definitions:

Market Intelligence

The process of gathering, analyzing, and interpreting information about a market, including its size, growth, competitive landscape, and customer needs and preferences.

Holt's Model

A forecasting technique that extends exponential smoothing to allow forecasting of data with trends by adding a trend smoothing coefficient.

Trend Component

A pattern or direction in data series that shows movement in a particular direction over time, often identified in time-series analysis.

Historical Demand

The record of past consumer purchasing behavior that is used to predict future demand patterns.