Q49
Marketing current products with possible modifications and range increases is also known as what?
A.
Retrenchment
B.
Market penetration
C.
Product development
D.
Market development
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
Marketing current products with possible modifications and range increases is also known as Market development. Market development is a strategic step taken by a company to develop the existing market rather than looking for a new market.