Answered

IDNLearn.com: Where your questions are met with thoughtful and precise answers. Discover reliable answers to your questions with our extensive database of expert knowledge.

She has decided to use some of her profits to open a furniture store specializing in furniture made from sustainably sourced wood. This is an example of the _____________ growth strategy? Select one: a. Market development b. Custom c. Market penetration d. Product development e. Diversification Clear my choice

Sagot :

This is an example of market development growth.

What is market development?

  • Market segmentation for existing products is identified and developed as part of a growth plan.
  • A development plan focuses on non-buying clients in the segments that are already targeted.
  • Additionally, it aims to reach fresh markets of clients.

What is custom?

  • A custom is a long-standing behavior of an individual or group (such as a daily routine) (such as a cultural practice).
  • When used as an adjective, custom designates something created to specific requirements, especially something distinctive.
  • Custom-made is a synonym for it.

What is market penetration?

  • When a product or service is successfully sold in a particular market, this is referred to as market penetration.
  • The sales volume of an existing good or service in relation to the overall target market for that good or service is used to measure it.

What is product development?

  • New product development in business and engineering refers to the entire process of launching a brand-new product, updating an already-available product, or launching a product in a new market.
  • Product design, along with many commercial factors, is a key component of NPD.

What is diversification?

  • Diversification in finance refers to the process of allocating capital in a way that limits exposure to any one specific asset or risk.
  • Investing in a variety of assets can help lower risk or volatility, which is a frequent step towards diversification.

Therefore, this is an example of market development growth.

Know more about markets here:

https://brainly.com/question/906651

#SPJ4

We are happy to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. IDNLearn.com has the answers you need. Thank you for visiting, and we look forward to helping you again soon.