when creating their newest product, seagrams escapes, seagrams wanted to expand to a new market segment who…

when creating their newest product, seagrams escapes, seagrams wanted to expand to a new market segment who wanted to enjoy light alcoholic drinks, and not get drunk quickly. they were hoping to attract people who wanted something light with a low alcohol content. creating seagrams escapes in hopes of expanding their market is an example of what area of the product/market expansion grid?\nproduct development\nmarket penetration\nmarket development\ndiversification

when creating their newest product, seagrams escapes, seagrams wanted to expand to a new market segment who wanted to enjoy light alcoholic drinks, and not get drunk quickly. they were hoping to attract people who wanted something light with a low alcohol content. creating seagrams escapes in hopes of expanding their market is an example of what area of the product/market expansion grid?\nproduct development\nmarket penetration\nmarket development\ndiversification

Answer

Brief Explanations:

Product Development is creating new products for existing markets. Market Penetration is increasing sales of existing products in existing markets. Market Development is introducing existing products to new markets. Diversification is creating new products for new markets. Seagram's created a new product (Seagram's Escapes) for a new market segment, which fits Market Development.

Answer:

Market Development