Enigma Breweries, a Distillery Company, Bought Suave Clothing, a Premium

question 3

Multiple Choice

Enigma Breweries, a distillery company, bought Suave Clothing, a premium men's fashion boutique chain. By entering a different business area, Enigma Breweries plans to grow and expand its business and profits. Which type of growth strategy has Enigma Breweries adopted?

• A) growth through concentration
• B) growth through diversification
• C) market development strategy
• D) market penetration strategy
• E) product development strategy

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Definitions:

Decision

The act or process of making a choice from a set of alternatives.

System I

A term often associated with fast, automatic, and intuitive thinking, as per dual-process theory in psychology.

System II

A cognitive unit or system in psychology that is responsible for deliberate, analytical, and effortful decision-making processes.

Confirmation Bias

The tendency to take evidence that’s consistent with your beliefs more seriously than evidence inconsistent with your beliefs.