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The strategy of launching new product in new market is known as?

Correct answer: D. Diversification

  • A. Market penetration
  • B. Product development
  • C. Market development
  • D. Diversification

Explanation

Launching a new product in a new market combines two new dimensions, so it is diversification in the Ansoff growth matrix. Market penetration, product development, and market development each retain either the existing product or the existing market.

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