Market Development Strategies Involve

question 43

Multiple Choice

Market development strategies involve:

• A) increasing the sale of existing products to present customers.
• B) finding new customers for its present products.
• C) directing new products to present customers.
• D) leading an organization into entirely new and unrelated businesses.

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Definitions:

Marginal Cost

The additional cost incurred in the production of one more unit of a good or service.

Marginal Product

The additional output that is produced by employing one more unit of a particular input, while holding other inputs constant.

Fixed Cost

A financial outlay that is unaffected by variations in the production or sales levels of goods and services.

Marginal Cost

The expense associated with creating an extra unit of a product or service.