Which of the Following Best Describes a Market Development Strategy

question 60

Multiple Choice

Which of the following best describes a market development strategy?

• A)selling more of current products to existing markets
• B)selling new products to new markets
• C)selling new products to existing markets
• D)selling existing products to new markets
• E)selling unrelated products to existing markets

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Definitions:

Just-In-Time (JIT)

A management strategy that aligns raw-material orders from suppliers directly with production schedules to reduce inventory costs and increase efficiency.

Production Capacity

The maximum output that a business can produce in a given period with the available resources.

Process Reengineering

The fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical measures of performance.

Unnecessary Steps

Processes or actions within a workflow that do not add value to the product or service and could be eliminated to improve efficiency.