Question
When a company offers a new product or an improved version of a current product in its present markets, it is engaged in
Multiple choice question.
product development.
market penetration.
market development.
diversification.
Multiple choice question.
product development.
market penetration.
market development.
diversification.
Answers
GPT-4o mini
The correct answer is **product development**. This term refers to the process of creating new products or improving existing products for the current markets.