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Market development strategy and diversification strategy

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Reference no: EM133128294

Which of the following is a key difference between a market development strategy and a diversification strategy?

Multiple Choice

  • Diversification occurs when a new product is offered in an existing market, whereas market development takes place when an existing product is offered in a new market.
  • Diversification involves low levels of risk, whereas market development is characterized by high levels of risk.
  • Diversification involves the development of a new product, whereas market development uses an existing product.
  • Diversification offers products in a new market, whereas market development involves offering a product in the existing market.
  • Diversification involves offering a product in the existing market, whereas market development offers products in a new market.

Reference no: EM133128294

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