A popular television channel ropes in a celebrity to make aguest appearance in an episode of its popular talk show. The show’sproducer believes that it will attract new viewers for the talkshow and also help in increasing the market share of the channel.This scenario is an example of the ________ strategy.
a. market development
b. diversification
c. product development
d. market saturation
Expert Answer
Ans: a. market development
Explanation: Market development is a growth strategy thatidentifies and develops new market segments for current products. Amarket development strategy targets non-buying customers incurrently targeted segments.