justinarce2510 justinarce2510

17-10-2019
Business

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The managers of Alfredo's Pizza, a popular pizzeria in New York City, have been increasingly encouraging senior citizens to visit the pizzeria's numerous outlets spread across the city. Anticipating a rise in the population of senior citizens in the area and their preferences for healthy lifestyle, the management of Alfredo's Pizza is seeking to tap into this promising segment that consists of retired, affluent consumers with new vegetarian Pizza. In this instance, the managers of Alfredo's Pizza are anticipating company growth through ________.

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Nyctalus Nyctalus

18-10-2019

Answer: market development

Explanation: In simple words, market development refers to a strategy under which an organisation tries to identify and develop a new market for gaining an absolute competitive advantage.

In the given case, Alfredo 's pizza has been realizing that the population of senior citizens has been increasing. Therefore they start making products as per the needs of their new customer base.

Hence from the above we can conclude that the company is using market development strategy for their growth.

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