Question

WayToGrow Inc. is one of the most popular brands of toys in its home market. The company decides to expand its business abroad, and its directors feel that instead of trying to establish its presence all at once in multiple markets, it should expand one country at a time. This would limit their risk and allow them to analyze customer response, after which they could expand to other similar countries. WayToGrow is following a ________ approach.

Answer 1

Answer:

WayToGrow is following a waterfall approach.

Explanation:

Waterfall Marketing is a model for marketing planning and execution which is considered to follow more traditional lines. This process is linear and sequential and flows downward, like a waterfall, and goes through steps. The steps in waterfall marketing are: conception, initiation, analysis, design, construction, testing, production/implementation and maintenance.

Here the company trickles down from country to country and expands slowly and in a controlled manner.