A popular smartphone manufacturer decides to increase advertising spending and offer discounts on its current model to boost sales in its existing market.
(Answer: Market Penetration)
A successful chain of coffee shops in the United States plans to open new locations in Europe, offering the same menu and experience.
(Answer: Market Development)
A well-known athletic shoe company introduces a new line of smartwatches for fitness enthusiasts, targeting their existing customer base.
(Answer: Product Development)
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