When the dove soap company decided it wanted to increase the size of its market, it chose to develop and offer a shampoo product under its dove brand. which strategy did dove use?

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22-08-2022
Business

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When the dove soap company decided it wanted to increase the size of its market, it chose to develop and offer a shampoo product under its dove brand. which strategy did dove use?

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QWSapphire QWSapphire · Answer 1 · 2022-08-29T08:06:56+02:00

The Dove company used the product development strategy. Thus, option 2 is correct.

Market development strategy refers to the strategy by which the company tries to reach the target consumers whom they have not reached yet, with their already existing products. In the given question, the Dove company is producing a new product to increase its market size. Thus, they are not following the market development strategy.

Product development strategy refers to the process of creating a new product to increase the market size. The Dove company is creating a new shampoo product. Thus, it is a product development strategy.

Market penetration strategy refers to the goal of a company to rise to a higher position by tapping into the shares of an existing product.