Question

Simone started the meeting at BCD Co. by focusing the attendees on the company's current status. "We have a good product mix," she stated. "To continue to grow, we need to target more segments." Which strategic path is Simone pursuing?

Answer 1

Answer:

Market development

Explanation:

Market development can be described as a marketing strategy in which new market segments are identified and developed for current products of a company.

The focus of a market development strategy are the existing customers and new customers in the targeted segments that are not currently buying the products of the company.

Market development is therefore a marketing strategy that is employed when a company wants to expand its total market by making effort to promote its current product to new consumers or a new geographical area.

From the question, the statement that  "To continue to grow, we need to target more segments" by Simone indicates that the strategic path Simone is pursuing is market development.