a personal care company has developed shampoo and conditioning products for dandruff control, coloured hair, volume,...
a personal care company has developed shampoo and conditioning products for dandruff control, coloured hair, volume, permed hair and straight hair. what has the company done to its product's target market?
Homework Answers
This is an example of product devolpment strategy as the personal care company is trying to get into the existing markets with a new product.
The product devlopment is a growth strategy used by company when it introduces a new product in the existing markets. This cannot be a market penetration startegy as there are new products in existing markets while market penetration requires existing products in existing markets .
This product devlopment strategy is more expensive than other strategies and it requires more amount of time as it needs to read the demand of the consumers better.
So, The personal company has gone for product devlopment in the product's target markets by introducing new products into existing markets.
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