Strategic ManagementMCQQuestion 11532 of 809
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Agarwal Hardware Mart decides to introduce its existing product line into new geographic markets abroad. Under Igor Ansoff's Product-Market Growth Matrix, this strategic growth choice is classified as:

Select Your Answer (Keyboard: A, B, C, D)
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Correct Answer

✅ Option C — Market Development

All Options:

  • AProduct Development
  • BDiversification
  • CMarket Development ✓
  • DMarket Penetration

Detailed Solution & Explanation

Correct Answer: Option **C** **Ansoff Growth Matrix:** - Existing Product + Existing Market = Market Penetration - Existing Product + New Market = Market Development - New Product + Existing Market = Product Development - New Product + New Market = Diversification

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