📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!


    Question

    If a bank launches a new product in a completely new

    geographic region, it is practicing:
    A Market penetration Correct Answer Incorrect Answer
    B Product development Correct Answer Incorrect Answer
    C Market development Correct Answer Incorrect Answer
    D Diversification Correct Answer Incorrect Answer
    E Harvesting Correct Answer Incorrect Answer

    Solution

    Market development involves entering new markets with existing products. Why Other Options Are Incorrect • A: Existing market. • B: New product for existing market. • D: New product + new market. • E: Profit extraction in decline stage. Banking Example: Expanding existing savings account product to new states.

    Practice Next
    More Basics of Marketing Management Questions