Global marketing ch.1,2,4,7 Questions and Answers High Distinction 2023

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Diversification - -developing new products for new markets. Starbucks dropped the word "Coffee" its logo. It recently acquired a juice maker, Evolution Fresh; the Bay Bread bakery, and tea retailer Te... avana Holdings. Next up: Revamping stores so they can serve as wine bars and attract new customers in the evening. A strategy to enter into a new market or industry (they create a new product for the new market) -A section of the ansoff matrix; Diversification is one of the four main growth strategies defined by Igor Ansoff's Product/Market matrix -business has no experience in the new market and does not know if the product is going to be successful. -new insights into market behavior simultaneously. -higher level of risk [Show More]

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