Question

In the case of Segway, makers of the Segway personal mobility vehicle, the company discovered that individuals would be reluctant to purchase their products for personal use only after it had spent over $100 million in research and development. Instead of scrapping the product, Segway shifted their sales and marketing toward organizations like police departments and warehouse operators, where they could be successful. Which phrase BEST describes the approach they took?

(1 point)

Pivoting to new market


Refining an existing offering


Creating a minimally viable product


Using feedback to iterate on a product

Answer 1

Pivoting to new market.

They shifted the target customer segment (from individual consumers to organizations like police and warehouses) rather than scrapping or iterating the same consumer product.