Expansion Strategies

Question 1

Developing a niche market

Answer 1

Small segment of the market that has a unique set of characteristics, focuses on a specific demographic

Question 2

Innovation for expansion

Answer 2

Engage in innovative practices and apply innovation theories

Make changes to products and processes to adhere to different cultures and customs

Question 3

Research and development

Answer 3

Activities that a business engages in to develop, improve or evolve new products or services

Continually engaged in research and development
Incentives provided by government

Question 4

Emerging technologies

Answer 4

Innovation and adoption of advanced technology