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Question
Which strategy involves the substantial modification of existing products or the creation of new but related products that can be marketed to current customers through established channels?
Which strategy involves the substantial modification of existing products or the creation of new but related products that can be marketed to current customers through established channels?
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Solution
The correct option is A Product Development
Product development strategy
involves the substantial modification of existing products or the
creation of new but related products that can be marketed to current
customers through established channels. It helps in the process of expansion of the existing business. Product development strategy can be defined as a process of bringing a new innovation to consumers from concept to testing through distribution.
Product development strategy involves the substantial modification of existing products or the creation of new but related products that can be marketed to current customers through established channels. It helps in the process of expansion of the existing business. Product development strategy can be defined as a process of bringing a new innovation to consumers from concept to testing through distribution.
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