Question

The sneaker company that you work for had a great marketing campaign and has increased sales for the original running shoe that was designed in 1993. This was exciting for the marketing team because they did not make any modifications or improvements to the sneaker since 1993. What is this an example of?
(1 point)
• market penetration
• market growth
• market development
• market diversification

Answer 1

The right answer for the question that is being asked and shown above is that: "• market development."  Market development comes in when taking existing products or services and selling them in new markets.

Existing product = running shoe designed in 1993.
New Market = present year.