Question

Since global expansion typically means bringing the company's existing products to new markets, it would be considered a ____________________ strategy in the strategic opportunity matrix model.

Answer 1

Answer:

Market development.

Explanation:

Market development strategy refers to a strategy used by organizations wishing to expand in the market by identifying and developing new market segments for their product, ie the focus is on gaining new uses and potential new customers. for your products.

For this to be a successful strategy, the marketing manager must consider whether there is a need for product modification or new product insertion, and if there are enough research efforts on sales channel and customer behavior so that This strategy meets the expectations of increased efficiency, market expansion and profitability.