CA Inter P6 · Chapter 13 · Question 2 of 11
In Ansoff's product-market growth matrix, selling an existing product range in new geographical markets or to new customer segments is called:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Market development
Explanation
Ansoff's matrix has four growth strategies. Market penetration is existing products in existing markets, market development is existing products in new markets, product development is new products in existing markets, and diversification is new products in new markets.
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