Question

M's Pizza, a fast food chain, decides to explore the hospitality industry and signs a partnership with the Silverline Chain of Hotels. This partnership will ensure that M's Pizza's specialty pizzas are included in the hotel's room-service menu. In this scenario, which of the following growth strategies is M's Pizza usingA) Product development
B) Market saturation
C) Diversification
D) Market development

Answer 1

Answer:

The correct answer is letter "D": Market development.

Explanation:

Market development is a strategy firms use to introduce a product into another existing market attracting new consumers to the same business. The strategy implies selling existing products in new geographical areas but it can also refer to selling the same goods or services to the same customers in new ways.