A firm's expansion into other geographic locations and/or increasing the range of products and services offered to current markets is called A) forward vertical growth

Marketing Dec 24, 2020

A firm's expansion into other geographic locations and/or increasing the range of products and services offered to current markets is called

A) forward vertical growth.

B) diversification.

C) backward vertical growth.

D) captive company strategy.

E) horizontal growth.

Expert Solution

Option E) horizontal growth is correct

This option is correct because horizontal growth is a growth in which products are expanded into a new market. The main objective of expanding the product is to cover the target audience. This is done by internal expansion or through a merger. It is different from vertical growth in which it is increasing and expanding in a new supply chain.

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