Question
Classify the examples listed below into one of the four categories (Market Penetration, Market Development, Product Development, Diversification) on theproduct/market expansion grid. 1.A wholesaler plans
Classify the examples listed below into one of the four categories (Market Penetration, Market Development, Product Development, Diversification) on theproduct/market expansion grid.
1.A wholesaler plans to double their retail sales team and sell more to their existing customers.
2.A shoe manufacturer is considering developing other products that may be of interest to their existing retail customers (such as socks, belts, shoe polish, hats, caps, etc.).
3.A specialist health food firm (that now only sells directly to end-consumers) is looking to introduce a new product in order to gain access to chemists' shops.
4.Wal-mart stores are planning to use more frequent discounts to attract more new customers. Could this be Market Development because Walmart offer existing products to New customers?
5.McDonald's is creating new menu items to appeal to new, health conscious customers.
6.A successful accounting firm is just about to open their first international office.
7.A local plumber is thinking about buying a hardware store that is currently for sale.
8.A large real-estate company has just set-up an internet site that helps their customers to find qualified service providers in their area (such as, lawyers, accountants, movers, cleaners, and so on).
9.A small winery (that just makes and sells wine in bulk to wholesalers) is considering opening up a small restaurant on their property. Could this be diversification since the winery has a new customer group (previously the wholesalers) and it is entering a new market (food items and no just wine)?
10.A local Chinese restaurant has expanded its menu to also include Vietnamese and Thai food because their customers were asking for it.
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