Multiple choice general knowledge sports

When a retailer follows a strategy whereby he reaches new market segments or completely changes the customer base he is said to adopt a strategy of

  1. Retail format development

  2. Diversification

  3. Market penetration

  4. Market Development / Expansion
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Diversification involves entering entirely new markets with new products, changing both what you sell and who you sell to. Market development keeps existing products but targets new segments, while penetration focuses on existing markets.

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