A company that produces gift cards for various retail stores implemented a marketing campaign that for a limited time offered a

Question

2 years ago

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A company that produces gift cards for various retail stores implemented a marketing campaign that for a limited time offered a

10% discount on gift cards if you purchased three or more at the same time. It also ran new commercials close to school graduation times to capture this new market beyond its usual holiday gifts market. This company was demonstrating which marketing strategy?

Business

1 answer:

Helga [31] · Answer 1 · 2023-07-14T18:03:55+03:00

Answer:

Market development strategy

Explanation:

It's a growth strategy that aims at identifying new customer for its existing product. As per this strategy, organizations develop products that cater to a new segment apart from its existing segment.

Market development strategy can be implemented through joint ventures, export licensing or direct investment. Here, Company wants to capture new market segment of fresh graduates. So, it is demonstrating market development strategy.