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      Question

      If a bank enters wealth management to serve

      high-net-worth clients, it is practicing:
      A Market penetration Correct Answer Incorrect Answer
      B Diversification Correct Answer Incorrect Answer
      C Product elimination Correct Answer Incorrect Answer
      D Harvesting Correct Answer Incorrect Answer
      E Undifferentiated marketing Correct Answer Incorrect Answer

      Solution

      Wealth management may involve new product category and potentially new segment. Why others are incorrect: Penetration increases share in same market; Elimination removes product; Harvesting reduces support; Undifferentiated ignores segmentation. Banking Example: Launching portfolio advisory services.

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