In 2015, David Austin Roses is releasing four new varieties of roses, including the Maid Marion and the Lady Gardener, to their loyal base of customers. David Austin Roses is using a ___ strategy.

Question

BlackTom AI · Accepted Answer

The scenario describes a company introducing four new varieties of roses to its existing loyal customer base in 2015. This aligns with the idea of developing new products for an existing market.

Option 1: diversification. This would involve introducing new products to new markets, expanding into products and markets that are unfamiliar to the company. Since the company is targeting its current loyal customers with new rose varieties, this is not a move into an entirely new market or product category.

Option 2: market penetration. This strategy focuses on increasing sales of current products within the existing market, often by boosting promotion, pricing, or distribution to current customers. Here, the company is not selling more of existing roses; it is creating new varieties, so this does not describe market penetration.

Option 3: market development. This would mean taking existing products into new markets or customer segments. In the given case, the company is not expanding to new markets but is launching new varieties to its existing customer base, so market development is not the fit.

Option 4: product development. This is about creating new products to serve an existing market. Since four new rose varieties are being released to the company’s loyal customers, this option accurately captures the strategy described.

In 2015, David Austin Roses is releasing four new varieties of roses, including the Maid Marion and the Lady Gardener, to their loyal base of customers. David Austin Roses is using a ___ strategy.Single choice

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